{"id":75737,"date":"2018-06-04T14:23:07","date_gmt":"2018-06-04T14:23:07","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/norwegian-ekornes-receives-630m-cash-bid-chinese-qumei\/"},"modified":"2025-09-19T08:48:11","modified_gmt":"2025-09-19T08:48:11","slug":"norwegian-ekornes-receives-630m-cash-bid-chinese-qumei","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/norwegian-ekornes-receives-630m-cash-bid-chinese-qumei\/","title":{"rendered":"Norwegian Ekornes receives $630m cash bid from Chinese Qumei"},"content":{"rendered":"

China\u2019s Qumei Home Furnishing Group\u00a0on the 22nd of May made an all-cash bid for Norway\u2019s Ekornes, valuing the Oslo-listed furniture maker at 5.1 billion Norwegian crowns ($630.75 million).<\/em><\/p>\n

The board of Ekornes unanimously recommended the bid of 139 Norwegian crowns per share, a premium of 18 percent above Wednesday\u2019s close.<\/p>\n

\u201cAfter the first approach from Qumei more than a year ago, the board and management have spent significant time and efforts to assess this strategic opportunity,<\/em>\u201d Ekornes said. \u201cWe have been impressed by Qumei\u2019s ability to develop successful products and marketing concepts and we see great potential for Ekornes to continue its success under this new ownership<\/em>,\u201d it added.<\/p>\n

Shareholders owning 25.7 percent of Ekornes have given pre-acceptance, Ekornes said. Best known for its \u201cStressless\u201d furniture brand, Ekornes\u2019 revenues fell by 2 percent to 3.08 billion Norwegian crowns in 2017, while its net profit, hit by a negative currency effects, fell by 38 percent to 200.5 million crowns.<\/p>\n

By 0711 GMT, shares of Ekornes traded 16 percent higher for the day at 137 Norwegian crowns, just shy of the 139 crowns offer price.<\/p>","protected":false},"excerpt":{"rendered":"

China\u2019s Qumei Home Furnishing Group\u00a0on the 22nd of May made an all-cash bid for Norway\u2019s Ekornes, valuing the Oslo-listed furniture maker at 5.1 billion Norwegian crowns ($630.75 million). The board of Ekornes unanimously recommended the bid of 139 Norwegian crowns … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":59970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713],"tags":[3254,3831,3301,3285,3832],"class_list":["post-75737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","tag-china","tag-ekorness","tag-furniture","tag-norway","tag-qumei","topic-wood-furniture","topic-wood-based-panels","area-china","area-europe"],"acf":[],"yoast_head":"\nNorwegian Ekornes receives $630m cash bid from Chinese Qumei<\/title>\n<meta name=\"description\" content=\"China\u2019s Qumei Home Furnishing Group\u00a0on the 22nd of May made an all-cash bid for Norway\u2019s Ekornes\" \/>\n<meta name=\"robots\" content=\"index, follow, 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