July 17, 2012 / 9:02 AM / 7 years ago

Carlsberg says gets approval for Baltika delisting

COPENHAGEN, July 17 (Reuters) - Russia’s MICEX stock exchange has approved the delisting of Danish brewer Carlsberg’s Russian subsidiary Baltika Breweries following a buyout offer to minority shareholders, Carlsberg said on Tuesday.

“The last day of trading in Baltika Breweries shares on the MICEX Stock Exchange will be 4 October 2012,” Carlsberg A/S 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 roubles ($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. ($1 = 32.6085 Russian roubles) (Reporting by John Acher. Editing by Jane Merriman)

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