COPENHAGEN (dpa-AFX) - Carlsberg A/S (CABGY.PK) announced that Baltika Breweries has been informed by MICEX that its application for a delisting of its shares has been approved. The last day of trading in Baltika Breweries shares on the MICEX Stock Exchange will be October 4, 2012. After that date trading in the Baltika Breweries shares will no longer be possible on a stock exchange.
Carlsberg Group had launched its voluntary offer to purchase shares in Baltika Breweries on June 1, 2012. The offer expires on 9 August 2012.
Carlsberg Group has maintained its offer at RUB 1550 since its first indications on February 20, 2012. During the same period the MICEX has declined by 10%. The offer is conditional upon the Carlsberg Group achieving more than 95% ownership. If shareholders do not accept the offer ahead of its expiry on 9 August 2012 and if Carlsberg does not achieve 95% ownership, Carlsberg Group may withdraw the offer and shareholders will miss the opportunity to sell at the current voluntary offer price. Shareholders will then be exposed to the stock market movements.
In addition, when Carlsberg Group announced its intentions to make the voluntary offer for Baltika Breweries, it also stated it intends to cease future dividend payments from Baltika Breweries.
Copyright RTT News/dpa-AFX