LOS ANGELES, Feb. 20 /PRNewswire-FirstCall/ -- Grand Havana Enterprises, Inc. today announced that the merger of Grand Havana Acquisition Corp., a company principally owned and controlled by Stanley Shuster, will merge with and into Grand Havana Enterprises, Inc., effective on the opening of business on February 21, 2007. At that time, the company will have completed its going private transaction, pursuant to which all of the company's shareholders (except for Stanley Shuster) will have ceased being shareholders of the company and shall receive $0.22 for each share owned by them.
Grand Havana Enterprises, Inc. owns and operates private membership cigar clubs under the name "Grand Havana Room" and one retail cigar store under the name "Grand Havana House of Cigars." Grand Havana currently owns and operates two Grand Havana Rooms which are located in Beverly Hills, CA and New York, NY, and one Grand Havana House of Cigars retail store located in Beverly Hills, CA. Grand Havana's primary business is operating its existing cigar clubs and retail store.
