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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Significant events of the year
Note 2
Placement of 12.7 million treasury shares
2.1
On March
23, 2015, Carrefour announced the disposal of 12.7 million Of the 12.7
million treasury shares sold, 9.3
million shares were
treasury shares, representing approximately 1.73% of its share capital.
directly owned by Carrefour and 3.4
million shares were indirectly
owned through an equity swap. These shares correspond to the excess
The sale was carried out through a private placement by way of an
coverage of Carrefour's obligations under stock option plans and free
accelerated bookbuilding at a price of 31
euros per share, for a total
share allotments.
amount of 393.7 million euros.
Operations to strengthen the Group's financial position
2.2
On January
22, 2015, the Group obtained a new 2,500 million euros
maturity of its facilities and reducing the related borrowing costs, while
five-year bank facility (expiring in January
2020) with two one-year
aligning their amount with the Group's needs.
extension options from a pool of 22 banks.
On January
27, 2015, the Group carried out a new 750 million euros
This facility replaces two existing facilities, for 1,591 million euros and 10.3-year 1.25% bond issue due June
2025. The issue's settlement
1,458
million euros, expiring in July
2017 and November
2018 date was February 3, 2015.
respectively.
The issue consolidated the Group’s long-term financing, extended the
The operation contributed to the ongoing strategy to secure the average maturity of its bond debt and further reduced its borrowing
Group's long-term financing sources by extending the average costs.
2014 dividend reinvestment option
2.3
At the Annual General Meeting held on June
11, 2015, shareholders
The option period was open from June 17 to July 7, 2015. At the end of
decided to set the 2014 dividend at 0.68
euro per share with a this period, shareholders owning 20.69% of Carrefour's shares had
dividend reinvestment option.
elected to reinvest their 2014 dividends.
The issue price of the shares to be issued in exchange for reinvested July 17, 2015 was set as the date for:
dividends was set at 28.77
euros per share, representing 95% of the
settlement/delivery of the 3,556,885
new shares corresponding to
●
average of the opening prices quoted on Euronext Paris during the 20
reinvested dividends, leading to a total capital increase including
trading days preceding the date of the Annual General Meeting, less
premiums of 102 million euros;
the net amount of the dividend of 0.68
euro per share and rounded up
payment of the cash dividend to shareholders who chose not to
●
to the nearest euro cent.
reinvest their dividends, representing a total payout of 390 million
euros.
Acquisition of
Rue du Commerce
2.4
On August
24, 2015, Carrefour announced that it was in exclusive The acquisition was completed in January
2016 after employee
negotiations with Altarea Cogedim for the acquisition of 100% of the representatives at
Rue du Commerce
had been consulted and the
shares of
Rue du Commerce
, a major player in the non-food necessary anti-trust approvals had been obtained.
e-commerce market in France.
It represents another step in the roll-out of Carrefour's omnichannel
strategy in France for the benefit of its customers both in stores and
on-line.
Planned acquisition in Romania
2.5
On December
22, 2015, Carrefour announced that an agreement had Through this acquisition, Carrefour would become the leading
been signed with the Rewe
group for the acquisition of Billa Romania,
supermarket operator in Romania, strengthening its multiformat offer
which operates a network of 86
supermarkets spread across the whole to better serve its customers.
of Romania, representing a total sales area of 83,000
square meters.
Completion of this transaction remains subject to approval by the
relevant anti-trust authorities.
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