2013-vinci-annual-report

I. Post-balance sheet events
30. Appropriation of 2013 net income
The Board of Directors finalised the consolidated financial statements for the year ended 31 December 2013 on 5 February 2014. These
financial statements will only become definitive when approved by the Shareholders’ General Meeting. A Resolution will be put to the
Shareholders’ Ordinary General Meeting for the payment of a dividend of €1.77 per share in respect of 2013. Taking account of the interim
dividend already paid in November 2013 (€0.55 per share), this would result in a final dividend of €1.22 per share.
278 VINCI 2013 ANNUAL REPORT
31. Other post-balance sheet events
31.1 ASF bond issue as part of its EMTN programme
On 17 January 2013, as part of its EMTN programme, ASF issued €600 million of 10-year bonds paying an annual coupon of 2.95%.
31.2 Completion of the buy-out of non-controlling interests in Cofiroute
On 31 January 2014, in accordance with the agreement reached on 20 December 2013, the Group completed the purchase of Colas’ 16.67%
stake in Cofiroute. The price paid was €780 million, plus a possible earn-out payment of €20 million depending on the attainment of certain
operating targets for 2014 and 2015. VINCI Autoroutes now owns 100% of Cofiroute.
In accounting terms, and in accordance with IFRS 10, the transaction is being treated in 2014 as a transaction between shareholders.
The difference between the transaction amount (including the fair value of the earn-out clause) and the net carrying value of non-controlling
interests, in an amount of around €350 million, is being taken to equity attributable to owners of the parent. The cash payment for the shares
will be recorded in 2014 under cash flows (used in)/from financing activities in the consolidated cash flow statement.
31.3 VINCI Park
VINCI has begun the process of selling an equity interest in VINCI Park to enable this company to continue its development, particularly
outside France, under a new ownership structure. The process remains ongoing.