Overview Report of the Executive Board Report of the Supervisory Board Financial statements Other information 16. Investments in associates and joint ventures HEINEKEN has the following (direct and indirect) significant investments in associates and joint ventures: Ownership 2012 Ownership Joint ventures Brau Holding International GmbH Co KgaA Germany 49.9% 49.9% Zagorka Brewery A. D. Bulgaria 49.4% 49.4% Pivara Skopje A.D. FYR Macedonia 48.2% 48.2% Brasseries du Congo S.A. Congo 50.0% 50.0% Compania Cervecerias Unidas S.A. Chile 33.1% 33.1% Tempo Beverages Ltd. Israel 40.0% 40.0% Heineken Lion Australia Pty. Australia 50.0% 50.0% Sirocco FZCo Dubai 50.0% 50.0% Diageo Heineken Namibia B.V. Namibia 50.0% 50.0% United Breweries Limited India 37.4% 37.5% DHN Drinks (Pty) Ltd. South Africa 44.6% 44.5% Sedibeng Brewery Pty Ltd.* South Africa 75.0% 75.0% Asia Pacific Investment Pte. Ltd.*** Singapore - 50.0% Asia Pacific Breweries Ltd.*** Singapore - 41.9% Guinness Anchor Berhad Malaysia 25.2% 10.7% Thai Asia Pacific Brewery Thailand 36.4% 15.4% Associates Cerveceria Costa Rica S.A. Costa Rica 25.0% 25.0% JSC FE Efes Kazakhstan** Kazakhstan 28.0% 28.0% HEINEKEN has joint control as the contract and ownership details determine that for certain main operating and financial decisions unanimous approval is required. As a result this investment is not consolidated. This entity is classified as Held for Sale (see note 7). These entities are consolidated from 15 November 2012 following the APIPL/APB acquisition. The ownership percentages have changed following the APIPL/APB acquisition on 15 November 2012. Reporting date The reporting date of the financial statements of all HEINEKEN entities and joint ventures disclosed are the same as for the Company except for: (i) Heineken Lion Australia Pty which has a 30 September reporting date; (ii) DHN Drinks (Pty) Ltd. which has a 30 fune reporting date; (iii) United Breweries Limited which has a 31 March reporting date; (iv) Guinness Anchor Berhad which has a 30 lune reporting date; and (v) Thai Asia Pacific Brewery which has a 30 September reporting date. The results of (ii). (iii). (iv) and (v) have been adjusted to include numbers for the full financial year ended 31 December 2012. Share of profit of associates and joint ventures and impairments thereof In millions of EUR20122011 34 Income joint ventures 179 215 Impairments 240 The income associates contain a HEINEKEN's share in the write off in deferred tax assets in an associate of EUR36 million (see note 27). Included in the income joint ventures is HEINEKEN's share of the net impairment in liangsu Dafuhao Breweries Co. Ltd in China of EUR11 million. Heineken N.V. Annual Report 2012 107

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Jaarverslagen | 2012 | | pagina 109