COPENHAGEN — The MICEX stock exchange has approved the delisting of Baltika Breweries following a buyout offer to minority shareholders, Carlsberg said Tuesday.
"The last day of trading in Baltika Breweries shares on the MICEX Stock Exchange will be Oct. 4, 2012," Carlsberg said in a statement.
Carlsberg, which controls Baltika with nearly 85 percent of the stock, launched on June 1 a voluntary offer to buy Baltika shares at 1,550 rubles ($47.53) per share up until Aug. 9.
The offer is conditional upon Carlsberg getting ownership of more than 95 percent of Baltika's stock.
Carlsberg said it had kept its offer price unchanged from its initial indication given in February despite a 10 percent decline in the MICEX overall during the same period.
Carlsberg said that if it did not get more than 95 percent of the stock, it could withdraw the offer.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.