The largest dairy producer in Romania, delisted from BVB. What happened?

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As of Tuesday, the shares of the largest dairy producer in Romania, Albalact (BVB: ALBZ), were withdrawn from trading on the Bucharest Stock Exchange (BVB) by the new owner, the French group Lactalis, capital.ro informs.

Thus, Albalact shares are also excluded from the BVB’s BET Plus, BET-XT, BET-XT-TR and BET-BK indices.

In November 2016, the Financial Supervisory Authority (ASF) had approved the intention of delisting Albalact through an offer made to minority shareholders.

The shareholders who have not got their money for Albalact shares can request their value at the price of RON 0.5252. Albalact shares were suspended from trading as of November 23, 2016, following the takeover of the company by Lactalis for RON 340 million

Albalact is the leader on the Romanian dairy market, surpassing known rivals. Albalact has Albalact brands – Raraul and Zuzu.

In 2015, the Alba-based company had revenues of EUR 99.4 million, net profit of EUR 3 million, with over 600 employees. Late last year, Albalact was taken over by the French Lactatis group, the biggest dairy company in the world.

Albalact will be replaced in the BVB indices by cardboard maker Vrancart (BVB: VNC).

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