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Note 8: Investments in associates and joint ventures


At year-end 2012, the carrying value of investments in associates amounted to €83 million (2011: €90 million) and in joint ventures €102 million (2011: €108 million).

In 2012, the results from associates and joint ventures amounted to a profit of €13 million (2011: €24 million).

No significant contingent liabilities exist related to associates and joint ventures.

The most significant associates and joint ventures of AkzoNobel are: Metlac Holdings Brl (49 percent), Metlac Spa (44 percent), Delesto B.V. (50 percent), Eka Chile SA (50 percent), Fort Amanda Specialties LLC (50 percent) and I.C. Insurance Holdings Ltd (49 percent).

Summary of financial information on a 100 percent basis

 

 

 

 

 

 

 

 

 

 

 

Associates

 

Joint ventures

In € millions

 

2011

 

2012

 

2011

 

2012

 

 

 

 

 

 

 

 

 

Condensed statement of income

 

 

 

 

 

 

 

 

Note 8: Investments in associates and joint ventures

 

113

 

126

 

673

 

545

Income before tax

 

15

 

18

 

39

 

14

Net income

 

10

 

12

 

29

 

9

 

 

 

 

 

 

 

 

 

Condensed balance sheet

 

 

 

 

 

 

 

 

Current assets

 

101

 

116

 

191

 

183

Non-current assets

 

128

 

77

 

192

 

158

Total assets

 

229

 

193

 

383

 

341

Current liabilities

 

38

 

41

 

92

 

89

Non-current liabilities

 

29

 

28

 

79

 

49

Shareholders’ equity

 

162

 

124

 

212

 

203

Total liabilities and equity

 

229

 

193

 

383

 

341

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