You need to keep it for local SEO. Although Google has decided this is a separate product now, its role will certainly change in the future. They have already made changes to the Google Plus app
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If the listing has good customer reviews, I would not delete it.
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There are brand pages aside from local pages.
It really depends on how this was set up. Brand page or local?
You should be able to transition it.
See this article as a reference.
http://localu.org/blog/google-now-allows-brand-pages-become-local-pages/
