Chrysler 2007 Annual Report Download - page 200

The Group did not acquire any significant subsidiary in 2006. It acquired instead minority interests in companies in which it already
held control, leading to the recognition of the following cash outflows and goodwill:
Goodwill
Purchased Cash outflows recognised at the
(in millions of euros) minority interest on acquisition acquisition date
Conversion of CNH Global N.V. privileged “Series A” shares 6% – –
Acquisition of Ferrari newly-issued shares and exercise of the call option on 28.6% of the Ferrari shares 29% 919 776
Total 919 776
In addition, the immaterial subsidiary Ferrari Financial Services AG was acquired in 2006, for a price paid by the Group which
included goodwill amounting to 1 million euros. 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 11
Current assets 30 30
Total assets 31 31
Liabilities 31 31
Contingent liabilities ––
Disposals
As described in the section Scope of consolidation, the Group disposed of the following businesses in 2007:
■On February 28, 2006, the sale of subsidiary Ingest Facility S.p.A. was concluded.
■On March 2, 2007, the sale of Meridian Technologies Inc. was finalised.
■On December 28, 2007, the Group completed the steps being taken to establish an equal share joint venture with Tata Motors. On
that date, therefore, the assets and liabilities of the Indian business of the Fiat Group Automobiles Sector, previously classified as
assets and liabilities held for sale, were transferred to the joint venture and were no longer consolidated in that manner.
The book value at the disposal date of the net assets sold is summarised in the following table:
Total sales of of which
consolidated
(in millions of euros) subsidiaries Ingest Meridian Fiat India
Non current assets 343 3 124 215
Cash and cash equivalents 16 2 8 6
Other current assets 233 133 70 27
Total assets 592 138 202 248
Debt 111 – 3 2 7 9
Other liabilities 261 133 61 65
Total liabilities 372 133 93 144
Fiat Group Consolidated Financial Statements at December 31, 2007 - Notes 199