THE SHARE BUYBACK PROGRAM WILL BE UTILIZED FOR A MAXIMUM AMOUNT OF 800 MILLION EUROS.
The Group announced at its 2022 results publication the launch of a Carrefour share buyback programme for a maximum amount of 800 million euros, which it plans to carry out, subject to market conditions, during 2023. This decision was made in light of the Group’s strong cash generation and favourable 2022 results, as well as in accordance with the commitments made under the Carrefour 2026 plan.
This programme is in keeping with the Group’s capital allocation strategy, which seeks to strike the ideal balance between steady investments, outside growth, and return on equity.
The management’s confidence in the Group’s working results, Free Cash Flow generation, and business outlook is reflected in this new share buyback initiative.
The share repurchase scheme will be carried out in a single or multiple tranches. Carrefour declares that it has contracted with an investment service supplier for a share buyback mandate. Beginning on February 27, 2023, the buying time will begin. Carrefour will hold the repurchased shares in anticipation of cancelling them in the future.
The General Shareholders’ Meeting of June 3, 2022, and, if necessary, the authorization that would be granted by the General Shareholders’ Meeting to be held on May 26, 2023, approved the Carrefour share buyback programme, which includes this transaction.