Ford Motor Company holds 97% interest in the company after it acquired 22.56% from FIC Oltenia (BSE: SIF5) in July 2009 and after a public offering carried in August. Therefore, under the provisions of the NSC regulations in force, the majority shareholder can delist the company from trading, should the shareholder’s interest is higher than 95%.
In November 2009, NSC said Automobile Craiova shares can be delisted only after Ford obtains confirmation from the Authority for State Asset Recovery (AVAS) that the operation is in line with the privatization law.
Automobile Craiova has a share capital of 39.78 million lei, divided into 18.9 million shares with a face value of 2.1 lei.
The company’s market cap stands at 303.1 mln lei (€73.2 mln), according to yesterday’s closing quote of 16 lei/share.
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