91 The contribution of these acquisitions in 2007 to results from operating activities was €1 million and to revenue €12 million. If both acquisitions had occurred on 1 January 2007, management estimates that consolidated results from operating activities would have been €6 million higher and consolidated revenue would have been €49 million higher. In determining these amounts, management has assumed that the fair value adjustments that arose on the date of the acquisitions would have been the same if the acquisitions had occurred on 1 January 2007. Other acquisitions and disposals In addition to the acquisitions of Krusovice and Syabar, there were various other minor acquisitions and disposals during 2007. In 2007 wholesalers in France, Spain and the Netherlands were acquired. In Vietnam and Germany breweries were acquired. Disposals during the year concerned a number of wholesalers in Italy and Austria. Furthermore our joint venture in Chile sold the majority of shares of a subsidiary, which held investments in brands. E feet of other acquisitions and disposals Other acquisitions and disposals had the following effect on Fleineken's assets and liabilities on acquisition date. Total other Total acquisitions disposals nllions of EURNote20072007 operty, plant equipment 14 6 (11) Intangible assets 15 - (11) /estments in associates 7 - Other investments 9 (2) Deferred tax assets 18 - (3) Inventories 2 (2) T ade and other receivables, epayments and accrued income 1 (12) h and cash equivalents 2 (1) ority interests - (6) ins and borrowings - 2 Employee benefits 26 1 trrent liabilities(35)36 N >t identifiable assets and liabilities (8) (9) jodwill on acquisitions 15 17 (4) C msideration paid/(received), satisfied in cash 9 (13) ish disposed of/(acquired)(2)1 t t cash outflow/(inf1ow)7(12) T :e fair values of assets and liabilities of some acquisitions have been determined on a provisional basis, a not all information was available yet on the balance sheet date. T ie contribution in 2007 of the other acquisitions to results from operating activities and to revenue was material. If the acquisitions had occurred on 1 January 2007, management estimates that consolidated r suits from operating activities and consolidated revenue would not have been materially different. iuisition of minority interests I 2007, Heineken increased its ownership in Fleineken Spain. The Group recognised an increase in odwill of €6 million. Heineken N.V. Annual Report 2007

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