Barlo to delist from stock exchange

Radiator and plastics group Barlo has applied to delist from the Irish Stock Exchange (ISE).

This follows a takeover offer from Sarcon becoming unconditional. Barlo effectively became part of Mr Seán Quinn's group four weeks ago when nearly 90 per cent of Barlo shareholders accepted  Mr Quinn's €84 million offer for the company.

The offer was made through Quinn Group subsidiary Sarcon. The offer became unconditional under Irish company law once 80 per cent of shareholders accepted the offer.

Today marks the start of a 20-business-days notice period for cancellations with the expected delisting date for trading in Barlo June 22nd, 2004.

Under the Sarcon offer, Barlo shareholders received 48 cents a share.