Key Developments: Groupe Bruxelles Lambert SA (GBLBF.PK)
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23 May 2013
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Latest Key Developments (Source: Significant Developments)
Groupe Bruxelles Lambert SA Announces Sale of 2.7% Stake in GDF Suez SA for EUR 1 Billion
Groupe Bruxelles Lambert SA announced the sale of a total of 65 million GDF Suez SA shares, held by its 100% owned subsidiary GBL Verwaltung S.A., representing approximately 2.7% of GDF Suez's share capital and around 8% of GBL's assets. The net proceeds from the transaction exceed slightly EUR 1.0 billion. Following this transaction, GBL has a net cash position (excluding treasury shares) of EUR 0.7 billion. Total dividends expected in 2013 on the shares sold amounted before the transaction to EUR 98 million of which EUR 44 million was already received in April. The consolidated capital gain resulting from the disposal shall amount approximately to EUR 80 million and compensates the impairment of EUR 65 million recorded on the whole investment in the first quarter of 2013. Following the disposal, GBL retains 2.4 % of the share capital of GDF Suez, most of which underlies the EUR 1.0 billion exchangeable bond issued in January 2013. Full Article
Groupe Bruxelles Lambert Announces FY 2012 Dividend Proposal
Groupe Bruxelles Lambert announced that a payment of EUR 2.65 gross dividend per share for 2012 will be submitted for approval to the Ordinary General Meeting of April 23, 2013. The dividend will represent a 1.9% increase over the dividend paid in the previous year. Full Article
Groupe Bruxelles Lambert Announces Launch of Exchangeable Bond for GDF SUEZ Shares
Groupe Bruxelles Lambert (GBL) announced that the launch of an offering by its 100% owned subsidiary GBL Verwaltung S.A. of approximately EUR 1 billion of bonds (the Bonds) exchangeable into existing ordinary shares of GDF SUEZ S.A. (GDF SUEZ). The offering of the Bonds relates to almost half the shares held by GBL – that is approximately 54 million GDF SUEZ shares representing 2.3% of its share capital and voting rights. The Bonds will have a maturity of 4 years and will bear interest at a rate of between 0.375% and 1.000% per annum. The Bonds will be redeemed at par on February 7, 2017 subject to the option exercisable by GBL to deliver GDF SUEZ shares to bondholders and pay in cash, if applicable, the balance between the value of the shares to be delivered and the nominal value of the Bonds. Full Article
Groupe Bruxelles Lambert Announces Launch of Exchangeable Bond for GDF SUEZ Shares
Groupe Bruxelles Lambert (GBL) announced the launch of an offering of approximately EUR 400 million bonds (the Bonds) exchangeable into existing ordinary shares of Suez Environnement Company (Suez Environnement). The offering of the Bonds relates to almost all of the shares held by GBL - that is 35.0 million Suez Environnement shares representing 6.9% of its share capital -and complies with the terms of the shareholders agreement of Suez Environnement. The Bonds will have a maturity of 3 years and will bear interest at a rate of between 0.0% and 0.5% per annum. The Bonds will be redeemed at par on September 21, 2015 subject to the option exercisable by GBL to deliver Suez Environnement shares to holders and pay in cash, if applicable, the balance between the value of the shares to be delivered and the nominal value of the Bonds. Full Article
Groupe Bruxelles Lambert Divests Interest in Arkema
Groupe Bruxelles Lambert (GBL) announced the completion of the placement of a total of 6.2 million Arkema shares representing 10.01 % of the share capital in Arkema's capital. The net proceeds from the transaction amount to EUR 432 million. Following this transaction, GBL will no longer hold any shares or any voting rights in Arkema. The private placement was managed by BofA Merrill Lynch and HSBC as Joint Bookrunners. Rothschild & Cie acted as financial advisor to GBL for this transaction. Arkema is a French chemicals producer. Full Article
Groupe Bruxelles Lambert Announces FY 2011 Dividend Proposal
Groupe Bruxelles Lambert (GBL) announced that the Board of Directors will present a proposal to the Ordinary General Meeting on April 24, 2012 to approve a gross dividend for 2011 of EUR 2.60 per share, a 2.4 % increase over the dividend of EUR 2.54 paid in the previous year. Coupon no 14 will be detached on April 26, 2012 and payable from May 3, 2012. This amount offers a dividend yield of 5.0 % on the basis of the 2011 year-end GBL share price. Full Article
GBL increases dividend as 2012 profits more than triple
BRUSSELS, March 5 - Belgian holding company Groupe Bruxelles Lambert said on Tuesday it would increase its full-year dividend by 2 percent to 2.65 euros ($3.45) per share after its earnings for 2012 more than tripled due to the benefits of divestments.
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