Ameropa has proposed paying out RON2.22 per share for each stake held by Azomures’ minority shareholders. The share price is similar to the price Ameropa paid when it took over Azomures.
Ameropa indirectly owns 96.5% in Azomures and minority shareholders own together around 3.5% of the company’s share capital.
Romania’s securities commission CNVM on Tuesday decided Ameropa Holding may delist Azomures from the Bucharest bourse. Following the CNVM decision, Azomures shares have been suspended from trading on the bourse. The last trading price for Azomures shares was RON2.13 a share.
In March 2012, Ameropa Holding bought a 75.87% stake in Azomures and increased its stake in the company to 96.49% in June. Ameropa paid RON240.8 million for the additional shares.
Azomures registered sales of RON995.1 million (EUR226.6 million) in the first half of 2012, up 14% on the year, and a profit of RON165.6 million (EUR37.7 million), up 1.5%.
Ameropa also owns locally Ameropa Grains Constanta (CCRL.RO) and port operator Chimpex Constanta (CHEM.RO). (EUR1=RON4.4870)