Chrysler 2007 Annual Report Download - page 198

36. Acquisitions and Disposals of subsidiaries
Acquisitions
In 2007, the Group acquired the following subsidiaries:
■At the end of April 2007 Magneti Marelli reacquired control of Automotive Spare Parts Distribution Operations (After Market Parts
and Services business line) following its acquisition of 60,54% of Concordia Finance S.A., leading to the recognition of a goodwill
for 37 million euros. This goodwill continues to be recognised in the balance sheet at December 31, 2007 since the acquired
company is capable of achieving a high level of profitability and additional benefits will arise from the purchase. The IFRS book
value of the acquiree’s assets and liabilities at the acquisition date and immediately after the acquisition were as follows:
IFRS book value
IFRS book value at immediately
(in millions of euros) the acquisition date after the acquisition
Non current assets 48 71
Current assets 88 88
Total assets 136 159
Liabilities 126 133
Contingent liabilities ––
■In May 2007 the Group acquired the entire ownership of the I.T.C.A. group which carries out its business in the automotive sector,
leading to the recognition of a goodwill for 10 million euros. This goodwill continues to be recognised in the balance sheet at
December 31, 2007 since the acquired group is capable of achieving a high level of profitability, synergies from the acquisition are
expected to provide value and additional benefits will arise from the purchase. The IFRS book value of the acquiree’s assets and
liabilities at the acquisition date and immediately after the acquisition were as follows:
IFRS book value
IFRS book value at immediately
(in millions of euros) the acquisition date after the acquisition
Non current assets 182 133
Current assets 160 160
Total assets 342 293
Liabilities 335 335
Contingent liabilities 11
Fiat Group Consolidated Financial Statements at December 31, 2007 - Notes 197