Italy's Barbieri Rubinetterie Industriali To Squeeze out Minorities in Romania’s Electroceramica

Barbieri Rubinetterie controls 97.53% of Electroceramica. It has offered to pay 6.0 lei ($2.07/1.40 euro) per Electroceramica share to the minority shareholders, the Romanian company said in a statement filed with BVB.

Electroceramica's shares were last traded on the BVB on September 2, ending at 6.0 lei, unchanged from the previous close. The stock has been suspended from trading since Tuesday.

Electroceramica, based in Turda, in northwestern Romania, produces porcelain insulators used in the electrotechnical industry and in the production, transportation and distribution of electrical power, ceramic bodies for pressing, low-voltage and medium-voltage electrical apparatus, heating elements.

(1 euro = 4.2799 Romanian lei)