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Constellation intends to de-list from ASX
Constellation Brands has taken steps to de-list from the Australian Securities Exchange (ASX) by the end of fiscal year 2011.
The company made the decision due to the securities being thinly traded in Australia, coupled with the additional complexity of administration and compliance associated with this listing.
The ASX de-listing effort isn’t a share buyback and doesn’t have an impact on the company’s securities listed on the New York Stock Exchange. Additionally, the de-listing process doesn’t impact the company’s Australian business operations.
Source: Constellation Brands
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