US: Quinsa shares to be removed from NYSE
The announcement, made by the New York Stock Exchange yesterday (14 February), follows the closure of AmBev's tender offer this week for the outstanding shares it does not already own in Quinsa.
The NYSE said it will now make an application to the US Securities and Exchange Commission to delist the American Depositary Shares. The stock exchange said that it normally considers suspending and removing the listing of a company when the number of outstanding shares is less than 600,000.
Quinsa had advised the NYSE that only 114,311 ADSs remained outstanding after the closure of the public tender offer. Earlier this week, AmBev said that, upon settlement of the offer, its voting interest in Quinsa will be 99.56% and its economic interest will be 99.26%.
Quinsa represents AmBev's brewing interests in Argentina.
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