Pravno-ekonomska analiza prevzema Gorenja

(magistrsko diplomsko delo)

Meta Močnik (Author), Marko Simoneti (Mentor)

Abstract

Nekdaj pomembna slovenska družba Gorenje d.d., ki je zaposlovala skoraj polovico aktivnega prebivalstva v Velenju, beležila velik izvoz v države EU pa tudi drugam po svetu in delovala v številnih dejavnostih preko družb v Sloveniji in tujini. Skupina je bila vse do prevzema v delni lasti Republike Slovenije. Družbo so v preteklosti večkrat dokapitalizirali. Kasneje je uprava družbe v iskanju strateškega partnerja leta 2016 našla potencialnega prevzemnika, ki se je po opravljenem skrbnem pregledu odločil, da ne bo objavil prevzemne ponudbe. Dve leti pozneje je kitajska nacionalna družba objavila prevzemno ponudbo in uspešno zaključila prevzemni postopek. Magistrska naloga skozi analizo dejavnosti Skupine, lastniške strukture in gibanja vrednosti delnice obravnava pomen, ki ga je imela družba za lokalno okolje in ključne deležnike – delničarje. Izpostavlja problematiko opravljenega skrbnega pregleda družbe, ki pa ne rezultira v prevzemu. Glede na dejstvo, da družba spada med javne delniške družbe, za katere se mora prevzemni postopek izpeljati po pravilih Zakona o prevzemih, naloga podrobneje analizira faze izpeljanega prevzemnega postopka. Izpostavlja vlogo uprave v prevzemnem postopku in išče podlage za njeno ravnanje. Nadalje naloga obravnava izključitev manjšinskih delničarjev in delovanje družbe pod novim lastništvom. Menim, da je bila prodaja družbe z vidika delničarjev modra rešitev. Kitajski prevzemnik pa je z nakupom pridobil ne le ustrojeno družbo, temveč tudi cenovno ugodno vstopnico na evropski trg.

Keywords

prijateljski prevzem;skrbni pregled;notranje informacije;uprava;javna delniška družba;Zakon o prevzemih;Gorenje;

Data

Language:	Slovenian
Year of publishing:	2020
Typology:	2.09 - Master's Thesis
Organization:	UL PF - Faculty of Law
Publisher:	[M. Močnik]
UDC:	330:34(043.2)
COBISS:	32557315
Views:	410
Downloads:	136
Average score:	0 (0 votes)
Metadata:

Other data

Secondary language:	English
Secondary title:	Law and economic analysis of takeover Gorenje
Secondary abstract:	Gorenje JSC, part-owned by the Republic of Slovenia until the takeover, was once an important company. It employed almost half of the working population in Velenje recording large exports to countries in the European Union and elsewhere in the world, and operating in many activities through companies in Slovenia and abroad. The company was recapitalised many times. Later in 2016, the management of the company, after the search of a strategic partner, found a potential acquirer. However, after a careful due diligence the acquirer decided not to publish the takeover bid. Two years later, a Chinese national company announced the takeover bid and successfully completed the takeover process. This master's thesis addresses the importance of the company to the local environment and to key factors by means of analysis of the Gorenje Group's activities, its ownership structure and the share value trends. It highlights the issue of the company's due diligence, which does not result in a takeover. In view of the fact that the company is one of the publicly traded joint-stock companies for which the takeover procedure must be carried out under the rules of the Takeover Act, this master's thesis analyses in more detail the stages of the initiated takeover process. The thesis also points out the role of the management in the takeover process and seeks the basis for their action. Furthermore, the thesis discusses the exclusion of minority shareholders and the operation of the company under new ownership. From the shareholders' point of view, I consider the sale of the company a wise solution. Nonetheless, the Chinese acquirer not only did they acquire a company, but also found an affordable way to the European market.
Secondary keywords:	friendly takeover;due diligence;inside information;management;publicly traded joint-stock company;Takeover Act;Gorenje;
Type (COBISS):	Master's thesis/paper
Study programme:	0
Embargo end date (OpenAIRE):	1970-01-01
Thesis comment:	Univ. v Ljubljani, Pravna fak.
Pages:	54 f.
ID:	12050926