27th Sep 2019 08:45
(Alliance News) - Globalworth Real Estate Investments Ltd on Friday said it has completed the delisting of its Polish subsidiary as it edges closer to sole ownership of the unit.
The delisting of Globalworth Poland Real Estate NV from the Warsaw Stock Exchange will be effective on Sunday, the company explained.
London-listed Globalworth's stake in the Polish company stood at fractionally under 100% and the remaining shares "will now be acquired through a mandatory acquisition, thereby completing this process".
Globalworth first announced the delisting process of the Polish subsidiary in April.
Deputy Chief Executive Dimitris Raptis said: "The acquisition of the outstanding minorities in our Polish subsidiary simplifies Globalworth's corporate structure and will improve efficiency at group level, while reiterating our commitment to this important and fast developing market.
Shares in Globalworth were untraded in London early on Friday morning, last quoted at EUR9.60 each.
By Eric Cunha; [email protected]
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