04 March, 2003

Prazske Pivovary, the second largest Czech brewer, has reported that it is to delist its shares from public markets after its owner, Belgium's Interbrew, accumulated almost all of its stock. According to a spokeswoman of Praszke, Interbrew now controls 99.6% of the company.

The move completes a lengthy financial restructuring under the Belgian parent, which has helped nurse Prazske Pivovary back to health. It posted a 75 million crown ($2.55 million) net profit last year after a string of losses in previous years.

The delisting of Prazske's shares has yet to receive formal approval by the company's shareholders who are due to meet for an extraordinary general meeting on April 2.

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