SAB pays $0.9 million for delisting

SAB Miller, the world’s second-largest brewer, is willing to pay almost 900,000 dollars to see its Romanian unit (CBR) delisted from Rasdaq electronic stock exchange. SAB plans to buy all 104,522 CBR shares it does not own, at a price of 276,250 ROL/share. The targeted stake accounts for 3.46% of the company’s share capital. SAB Miller owns 96.5% of shares, the rest being controlled by over 8,000 minority shareholders. CBR (the former Ursus SA) was floated on Rasdaq late this June since it was created through the merger of four plants (Ursus Cluj, Pitber Pitesti, Vulturul Buzau and Bere Timisoreana), which used to be open-end companies. SAB launched its takeover bid as it owns more than 90% in CBR and is compelled by legislation to delist the company. CBR will be delisted whether the bid is successful or not. Since CBR was listed, its shares have been traded for prices ranging between 150,000 and 200,000 ROL. ZF