87
Notes to the Consolidated Financial Statements (continued)
6. Acquisitions and disposals of subsidiaries and non-controlling interests
Acquisition of subsidiaries
Accounting for prior year acquisitions
Acquisitions of non-controlling interests
Disposal of Distribev
7. Assets or disposal groups classified as held for sale
Assets and liabilities classified as held for sale
-
-
-
Heineken NV.
Report of the
Report of the
Financial
Sustainability
Other
Annual Report 2016
Introduction
Executive Board
Supervisory Board
Statements
Review
Information
During 2016, HEINEKEN completed several immaterial acquisitions, amongst others in the Philippines.
The accounting for the acquisitions of Heineken South Africa (Pty) Limited (formerly known as DHN Drinks (Pty) Limited) and Sedibeng Brewery
(Pty) Limited (South Africa), Desnoes Geddes (Jamaica), GAPL Pte Ltd. (Malaysia) and Pivovarna Lasko (Slovenia) has been finalised in the fourth
quarter of 2016 without any significant adjustments.
During 2016 HEINEKEN acquired 22.5% of the floating shares in Desnoes Geddes ('D&G'). HEINEKEN owned a 95.8% stake in D&G as at
31 December 2016. Furthermore, during 2016 HEINEKEN acquired the remaining 46.6% floating shares in Pivovarna Lasko Union, d.o.o. (formerly
known as Pivovarrna Lasko d.d.). The consideration paid for the acquisition of non-controlling interests in 2016 and the related equity impact (result
of buy out) are disclosed in the table below:
In millions of EUR
Consideration paid
Value of non-
controlling interest
Result buy-out
Desnoes Geddes (Jamaica)
150
85
65
Pivovarna Lasko (Slovenia)
104
54
50
Other
40
5
35
Total
294
144
150
On 1 February 2016, HEINEKEN completed the sale of 80% in Distribev Sp. z o.o., Grupa Zywiec S.A.'s local sales and distribution company serving
the traditional trade and horeca market, to the Orbico Group. A EUR 8 million pre-tax gain was recorded in other income.
The assets and liabilities below are classified as held for sale following the commitment of HEINEKEN to i
Efforts to sell the assets and liabilities classified as held for sale have commenced and are expected to be
a plan to sell these assets and liabilities.
completed during 2017.
In millions of EUR
2016
2015
Current assets
13
53
Property, plant and equipment
38
67
Intangible assets
6
Other non-current assets
3
Assets classified as held for sale
57
123
Current liabilities
(11)
(31)
Non-current liabilities
(6)
Liabilities classified as held for sale
(17)
(31)
In 2015, the assets and liabilities held for sale mainly related to Distribev Sp. z o.o. (Grupa Zywiec S.A.'s sales and distribution company serving the
traditional trade and horeca market)in Poland. Closing of the transaction occurred on 1 February 2016.