MICEX Delisting Baltika

July 18, 2012

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)

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