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Note 11 Investments in
associates and joint ventures


At year-end 2009, the carrying value of investments in associates amounted to €79 million (2008: €88 million) and in joint ventures €96 million (2008: €113 million).

Summary of financial information on a 100 percent basis

 

 

 

 

 

In € millions

 

 

 

 

 

Associates

Joint ventures

 

2008

2009

2008

2009

 

 

 

 

 

Information on the statement of income:

 

 

 

 

- Revenue

304

95

668

600

- Income before tax

27

17

31

43

- Net income

17

6

23

32

 

 

 

 

 

Condensed balance sheet:

 

 

 

 

- Current assets

156

185

148

60

- Non-current assets

67

25

237

205

 

 

 

 

 

Total assets

223

210

385

265

 

 

 

 

 

- Current liabilities

44

71

116

- Non-current liabilities

30

29

81

74

- Shareholders’ equity

149

110

188

191

 

 

 

 

 

Total liabilities and equity

223

210

385

265

In 2009, the results from associates and joint ventures amounted to a profit of €22 million (2008: €25 million).

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).

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