Key Developments: Carrefour SA (CRERF.PK)
30.24USD
24 May 2013
$0.50 (+1.69%)
$29.74
$30.17
$30.24
$30.17
30,000
1,622
$31.20
$15.83
Latest Key Developments (Source: Significant Developments)
Carrefour SA Sells Stake In Middle East Joint Venture-Reuters
Reuters reported that Carrefour SA agreed to sell its remaining 25% stake in a Middle East joint venture to local partner Majid Al Futtaim (MAF) for EUR530 million ($682.45 million), MAF said in a statement. Full Article
Carrefour SA Reorganizes Its Partnership with Sabanci Holding by Transforming the Governance of Their CarrefourSA Joint Venture in Turkey
Carrefour SA announced that after 17 years of partnership, Carrefour Group and Sabanci Holding have decided to reorganize the governance of their joint venture, CarrefourSA. Sabanci Holding will become the majority shareholder by acquiring an additional 12% of the capital of CarrefourSA from Carrefour Group for a total consideration of TL 141 million (EUR 60 million). Carrefour will retain a stake of 46.2%. Sabanci Holding will own 50.8% of CarrefourSA. The transaction is expected to be completed by July 2013 Full Article
Carrefour SA Announces Details of FY 2012 Dividend Payable in Cash or Shares
Carrefour SA announced that its Annual General Meeting approved the proposed EUR 0.58 per share dividend for fiscal year 2012 and decided to offer shareholders an option to receive the dividend payment in shares. The issue price of the new shares to be issued in consideration for the dividend has been set at EUR 19.62. This issue price represents 95% of the average opening prices quoted on the regulated market of Euronext Paris during the 20 trading days preceding the date of the Annual General Meeting, less the amount of the proposed dividend, and rounded upward to the nearest euro cent. The ex-date is set on May 2, 2013. The shareholders may opt for the dividend payment in cash or in new shares from May 2 to May 23, 2013 included. For the shareholders who have not opted for a dividend payment in shares by May 23, 2013, the dividend shall be paid in cash on June 7, 2013. For the shareholders who have opted to receive the dividend in shares, settlement and delivery of the shares will be on June 7, 2013. The shares issued as dividend payment will carry dividend rights as from January 1, 2013. The new shares will rank pari passu with existing shares and will be fully fungible with existing shares already listed. The maximum total number of new shares which may be issued for the purpose of the dividend payment in shares is 20,783,827 shares, representing approximately 2.93% of the share capital and 2.58% of the voting rights of Carrefour SA. Full Article
Carrefour SA to Open Supermarket in Romania's Botosani-SeeNews - The Corporate Wire
SeeNews - The Corporate Wire reported that the Romanian unit of Carrefour SA will open its first supermarket in the northeastern town of Botosani on March 29, 2012. The store has floor-space of 826 square meters and will offer around 5,000 products. Following this opening, Carrefour SA will operate 24 hypermarkets, 68 supermarkets and 20 Carrefour Express Angst convenience stores in Romania. Full Article
Carrefour SA Proposes FY 2012 Dividend Payable in Cash or Shares
Carrefour SA announced that its Board of Directors decided at its meeting on March 6, 2013 to submit for approval to the Annual General Meeting to be held on April 23, 2013 a dividend of EUR 0.58 per share for the year ending December 31, 2012, payable in cash or in Carrefour SA shares. The proposed dividend amounts to a payout ratio of 45% of net income, Group share, adjusted for exceptional items, in line with the policy set out in March 2012. The ex-dividend date has been set as May 2, 2013. The period during which shareholders may choose the option of the payment of dividend in cash or in shares will begin May 2, 2013 and end May 23, 2013, included. Payment of the cash dividend and settlement of the stock dividend will occur on June 7, 2013. Full Article
Carrefour SA to Open Supermarket in Romania's Constanta-SeeNews - The Corporate Wire
SeeNews - The Corporate Wire reported that the Romanian unit of Carrefour SA will open its sixth supermarket in the southeastern Black Sea port of Constanta on February 27, 2012. The store has an area of 460 square meters and will offer around 6,000 products. Following this opening, Carrefour SA will operate 24 hypermarkets, 67 supermarkets and 20 Carrefour Express Angst convenience stores in Romania. Full Article
Carrefour SA and Angst Open New Carrefour Express Convenience Store in Bucharest-SeeNews - The Corporate Wire
SeeNews - The Corporate Wire reported that the Romanian unit of Carrefour SA has opened a Carrefour Express store in Bucharest, expanding to 20 its network under a franchise arrangement with local retailer and food producer Angst. Carrefour SA said in a statement it now operates 109 stores in the country, including 24 hypermarkets and 65 supermarkets. Carrefour SA started the franchise chain with long-term supplier Angst in October 2011 by launching its first convenience store in the Romanian capital. The Carrefour Express brand is part of Carrefour SA's strategy to diversify formats and launch small corner-shops with long opening hours in downtown locations. Angst operates three food factories and a retail chain of 24 stores. Full Article
Carrefour SA Reaffirms FY 2012 Operating Profit Guidance-DJ
Dow Jones reported that Carrefour SA is comfortable with recurring operating profit guidance which stands at around EUR2.07 billion for fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EBIT of EUR2.07 billion for fiscal 2012. Full Article
Carrefour SA and Angst Add Two Express Angst Stores in Bucharest-SeeNews - The Corporate Wire
SeeNews - The Corporate Wire reported that the Romanian unit of Carrefour SA has opened two Carrefour Express stores in Bucharest, expanding to 19 its network under a franchise with local retailer and producer Angst. Following these openings, Carrefour SA will operate 108 stores in the country, including 24 hypermarkets and 65 supermarkets. Carrefour SA started the franchise chain with long-term supplier Angst in October 2011 by launching its first convenience store in the Romanian capital. The Carrefour Express brand is part of Carrefour SA's strategy to diversify formats and launch small around-the-corner outlets with long opening hours in the heart of the cities. Carrefour SA's partner Angst operates three factories and a retail chain of 24 stores. Full Article
Dalhoff Larsen & Horneman A/S Divests Land and Properties in Brazil to Carrefour SA's Atacadao
Dalhoff Larsen & Horneman A/S (DLH) announced that it announced on September 27, 2010 that it had entered into an agreement to sell land and properties in Belem, Brazil, to a local contracting company. Due to local, juridical circumstances, however, a clean deed of conveyance could not be presented within the period of agreement. Since that time, DLH has been working with the local authorities to obtain a clean deed. Now, the work has proven successful and, therefore, as of December 21, 2012 DLH has divested the land and properties to Atacadao, a subsidiary of the French Carrefour SA, at net proceeds of DKK 60 million. The amount will be used to reduce the DLH Group’s net interest-bearing debt, which as on November 30, 2012 was DKK 315 million. The transaction will not affect the previous outlook for the full fiscal year 2012 for an EBIT margin in the level of zero. Full Article
Carrefour falls back on doubts over emerging market retreat
PARIS, May 23 - Carrefour shares dropped over 5 percent on Thursday, reversing gains from the day before, amid concerns the world's No. 2 retailer is pulling out of too many high-growth markets after the surprise sale of a Middle Eastern venture.
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