Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Euronext Paris  >  Carrefour    CA   FR0000120172

CARREFOUR (CA)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Brazil's Petrobras raises $1.5 billion with fuel distribution unit IPO

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/14/2017 | 02:30am CEST
A tank of Brazil's state-run Petrobras oil company is seen in Brasilia

SAO PAULO (Reuters) - State-controlled oil company Petrobras' fuel distribution unit priced its shares at the bottom of the pre-established range for its IPO but still raised 5.02 billion reais (£1.1 billion) in one of Brazil's biggest stock flotations of the year.

Petroleo Brasileiro SA, as Petrobras is formally known, priced shares in the subsidiary at 15 reais, at the bottom of the suggested price range, with concern about presidential elections next year and struggle to approve much-needed macroeconomic reforms weighing on investors orders, according to people close to the deal.

Petrobras opted for a lower price, but increased the size of the offer, with investors exercising the 15 percent "greenshoe" option for an over-allotment of shares.

Petrobras Distribuidora SA's IPO was the largest since the 5.12 billion reais listing of the local unit of retailer Carrefour SA (>> Carrefour) in July. Carrefour´s listing was the biggest in four years.

According to one person with knowledge of the matter, Petrobras Distribuidora was valued at around seven times its expected earnings before interest, taxes, depreciation and amortisation, a gauge of operational profitability known as EBITDA. Private sector rivals such as Ultrapar Participações SA trade at multiples above 10.

The long-awaited transaction has been discussed between the oil company and the banks for at least two years. Asset sales and spinoffs are being used by Petrobras to trim the largest debt burden of any major oil company, at about $95 billion.

Renewed demand for emerging market assets, and a nascent economic recovery have fostered demand for Brazilian assets following the deepest recession in a century.

Brazil is going through one of the busiest weeks for capital markets this year, with four transactions. Companies are rushing to complete the deals and avoid expected market volatility ahead of a wide-open presidential campaign next year.

(Reporting by Tatiana Bautzer, Flavia Bohone, Bruno Federowski and Brad Haynes; Editing by Christian Plumb and Lisa Shumaker)

Stocks mentioned in the article
ChangeLast1st jan.
PETROLEO BRASILEIRO SA PETROBRAS 0.00% 16.21 End-of-day quote.-4.03%
ULTRAPAR PARTICIPACOES 0.00% 46.64 End-of-day quote.-36.56%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CARREFOUR
06/21CARREFOUR : Ex-dividend day for final dividend (optional)
FA
06/18CARREFOUR : rekindles executive pay row in France
RE
06/18GEORGES PLASSAT : Ex-Carrefour CEO Plassat joins Degroof Petercam
RE
06/17CARREFOUR : France urges ex-Carrefour CEO to give up retirement package
RE
06/15CARREFOUR : CEO Says Ecommerce Strategy Making Progress -Reuters
DJ
06/15CARREFOUR : Dividends
CO
06/15CARREFOUR : Proxy Statments
CO
06/12CARREFOUR : takes part in Bio Brazil Fair and reinforces its strategy to lead th..
PU
06/11Carrefour takes on French rivals in e-commerce with Google tie-up
RE
06/04Walmart sells majority of Brazil unit, takes $4.5 billion charge
RE
More news
News from SeekingAlpha
06/19THE CHAIN : Carrefour Makes Incremental Commitment To Sustainable Beef In Brazil.. 
06/11Carrefour and Système U Partnership announces five-year partnership agreement 
04/12Carrefour (CRRFY) Updates on Q1 2018 Sales - Slideshow 
04/11Carrefour reports Q1 results 
03/01Carrefour S.A. ADR's (CRRFY) CEO Alexandre Bompard on Q4 2017 Results - Earni.. 
Financials (€)
Sales 2018 79 354 M
EBIT 2018 1 890 M
Net income 2018 596 M
Debt 2018 3 599 M
Yield 2018 3,19%
P/E ratio 2018 16,73
P/E ratio 2019 13,23
EV / Sales 2018 0,20x
EV / Sales 2019 0,19x
Capitalization 11 930 M
Chart CARREFOUR
Duration : Period :
Carrefour Technical Analysis Chart | CA | FR0000120172 | 4-Traders
Technical analysis trends CARREFOUR
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 19,3 €
Spread / Average Target 27%
EPS Revisions
Managers
NameTitle
Alexandre Bompard Chairman & Chief Executive Officer
Matthieu Malige Chief Financial Officer
Nicolas Bazire Non-Independent Director
Jean-Laurent Bonnafé Director
Thierry Breton Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CARREFOUR-15.60%13 809
WAL-MART STORES-15.95%244 920
ALIMENTATION COUCHE-TARD INC-14.79%23 943
AVENUE SUPERMARTS LTD29.91%13 976
FAMILYMART UNY HOLDINGS CO LTD55.23%13 774
YONGHUI SUPERSTORES CO., LTD-20.40%12 340