Salinas to Delist Flagship Elektra in Wake of Share Plunge (2)

After years of fighting to defend the share price of his flagship holding and a months-long trading halt, Mexican billionaire Ricardo Salinas Pliego is taking Grupo Elektra private.

Shareholders in the appliance retailer and bank voted to delist the shares at a meeting on Friday, according to a filing. The Salinas family owns nearly 75% of the shares, according to the latest annual report from last December.

The move aims “to reorganize and strengthen the company’s extensive and diverse assets – digital and physical, national and international — and find financial tools to maximize its real value,” Elektra said in ...