Qumei Home, a Shanghai-listed company, announced that as of August 29, Qumei Home has completed a tender offer for Ekornes ASA and held a 98.36% stake in Ekornes ASA through its overseas subsidiaries. The remaining shares will be enforced under Norwegian law to acquire.

At the beginning of September, Ekornes ASA's delisting work has started. It is expected that Ekornes ASA will be delisted in October 2018, and Ekornes's performance has been taken into Qumei finance report on September 1st.

It is understood that the acquisition of Ekornes ASA by Qumei Home has been highly recognized by the existing management of Ekornes.

Ekornes general manager Olav said that the professional ability of Qumei's chairman and management team is admirable. I believe that with the help of Qumei, Ekornes will achieve more quality growth.

Qumei said that the two parties will hold business meetings of various departments in the next two weeks, and Ekornes management will report on current product development, manufacturing and marketing.

The latest news shows that the key members of Qumei's overseas business team have already arrived, and will assist the company's board of directors in overseas work docking and global market research. The Qumei Board of Directors and overseas business team will conduct research and visits in key European markets such as Germany, Norway, the Netherlands and France, and hold market seminars with local regional sales branches of Ekornes.

In September, Qumei's European design team will optimize the design of Stressless's original products and start research and development of the main living room furniture products.

In 9.11-14, Furniture China 2018, Ekornes takes its brand Stressless in Pudong, Shanghai. That may be the first step for Ekornes to come into Chinese market.

(Source: JJgle.com)