6. Acquisitions and disposals of subsidiaries and minority interests
Notes to the consolidated financial statements
Acquisitions and disposals 2009
During 2009, four minor acquisitions occurred within the UK, Nigeria and Egypt. Total goodwill on these
acquisitions amounts to EUR34 million. These acquisitions individually are deemed immaterial in respect
of 1FRS disclosure requirements.
Disposals during 2009 are related to a few minor disposals in Western Europe.
Total acquisitions and disposals had the following effect on Heineken's assets and liabilities on
In millions of EUR
Property, plant equipment
Investments in associates and joint ventures
Trade and other receivables
Prepayments and accrued income
Cash and cash equivalents
Loans and borrowings
Deferred tax liabilities
Net identifiable assets and liabilities
Goodwill on acquisitions
Consideration paid/(received), satisfied in cash
Net bank overdrafts acquired/Net bank
overdrafts disposed of
Net cash outflow/jinflow)
The fair values of assets and liabilities of the 2009 acquisitions have been determined on a provisional basis, and
will be completed in 2010.
The newly acquired entity in the UK has been fully integrated in the Western European region. Goodwill on this
acquisition has been allocated to the Western European region for the purpose of impairment testing in line
with the operational responsibility.
In respect of the newly acquired entity in Egypt and Nigeria, the goodwill has been allocated to the individual
country. Although synergies are achieved on a regional basis these entities are less integrated in the region and
therefore goodwill is monitored on an individual country basis.
The contribution in 2009 of the acquisitions to results from operating activities and to revenue was immaterial.
If the acquisitions had occurred on 1 January 2009, management estimates that consolidated results from
operating activities and consolidated revenue would not have been materially different.
Annual Report 2009 - Heineken N.V.