Notes to the consolidated financial statements continued Report of the Report of the Contents Overview Executive Board Supervisory Board Financial statements Other information 6. Acquisitions and disposals of subsidiaries and non-controlling interests Accounting for the acquisition of Zagorka On 27 October 2014, HEIN EKEN acquired a 98.86 per cent direct stake in Zagorka AD from Brewmasters Holdings. Prior to the transaction, HEINEKEN did not have control over the entity as it owned an indirect stake of 49.43 percent through Brewmasters Holdings, of which HEINEKEN owns 50 per cent. The Previously Held Equity Interest (PHEI) in the acquired business is accounted for at fair value as per the acquisition date. The fair value of the PHEI compared to HEINEKEN's carrying amount results in a non-cash gain of EUR51 million, recognised in other income. Non-controlling interests are measured based on the proportional interest in the recognised assets and liabilities of the acquired business. HEINEKEN recognised EUR0.4 million in respect of a 1.14 percent non-controlling interest. The following table summarises the major classes of assets acquired and liabilities assumed as of the acquisition date. Provisional goodwill is recognised in Bulgarian lev and has been allocated to the CEE region since that is the level at which the goodwill will be monitored. Goodwill includes synergies, namely related to cost synergies within sales and distribution, workforce and relationships with suppliers. In millions of EUR1 Property, plant and equipment 39 Intangible assets 15 Inventories 4 Trade and other receivables 3 Assets acquired 61 Loans and borrowings, current 5 Bank overdraft 5 Deferred tax liabilities 2 14 Liabilities assumed 26 Total net identifiable assets 35 In millions of EUR1 Consideration transferred2 77 Fair value of previously held equity interest in the acquiree 58 Non-controlling interests Net identifiable assets acquired (35) Goodwill on acquisition (provisional) 100 1 Amounts were converted to Euros at the rate of EUR/BGN1.96forthe statement of financial position. 2This amount only reflects the consideration transferred for the stake not yet owned by HEINEKEN. Acquisition-related costs of EUR0.1 million have been recognised in the income statement for the period ended 31 December 2014. In accordance with IFRS 3R, the amounts recorded for the transaction are provisional and are subject to adjustments during the measurement period if new information is obtained about facts and circumstances that existed as of the acquisition date and, if known, would have affected the measurement of the amounts recognised as of that date. Acquisitions of non-controlling interests In 2014, HEINEKEN acquired various stakes from minority interest holders. Asa result, equity attributable to equity holders of HEINEKEN decreased by EUR181 million. This mainly relates to our Asia Pacific region. Disposals Disposal of 80 per cent of Brasserie Lorraine in Martinique On 10 September 2014, HEINEKEN sold a majority stake of 80 percent of Brasserie Lorraine to Antilles Glaces. HEINEKEN retains a 20 percent shareholding in Brasserie Lorraine. A EUR1 million pre-tax book gain on the disposal was recorded in other income. 86 Fleineken N.V. Annual Report 2014

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2014 | | pagina 88