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Zalakerámia to leave BSE

Zalakeramia Rt, a Hungarian tilemaker, will leave the Budapest Stock Exchange (BÉT), the bourse said in a statement on its website yesterday. The reason is that Lasselsberger Holding International GmbH, an Austrian building
materials manufacturer has made an offer to purchase all Zalakerámia shares it doesn't own. Thus, Zalakerámia shares will be traded for the last time August 3. Under Hungarian law, a company that boosts its stake to more than 90 % in another company has the right to acquire all outstanding shares. Lasselsberger said July 11 it would pay Ft 2,350 for each share after it increased its holding from 93.6 % in a buyout offer ended May 17. The transaction valued Zalakerámia at Ft 12.6 billion. Zalakerámia's shares rose Ft 15 (0.7%), to Ft 2,300 yesterday.