Chrysler 2008 Annual Report Download - page 213

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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. This goodwill continues to be recognised in the balance sheet at 31
December 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
(€ millions) 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
In August 2007 the Group acquired the entire ownership of Teksid Aluminum S.r.l., leading to the recognition of a goodwill for €7
million. This goodwill continues to be recognised in the balance sheet at 31 December 2007 since the acquired company 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
(€ millions) the acquisition date after the acquisition
Non current assets 67 74
Current assets 43 43
Total assets 110 117
Liabilities 117 117
Contingent liabilities ––
Disposals
In 2008 the Group disposed of the following businesses:
The investments in ITS-GSA Fiat Group France S.A.S., ITS-GSA Deutschland GmbH and ITS-GSA U.K. Limited were sold during
the second quarter of 2008; these had already been classified as assets held for sale in the Consolidated financial statements for
the year ended 31 December 2007.
The investment in Teksid Aluminum Getti Speciali S.r.l. (already included under Assets held for sale in the Consolidated Financial
Statements at 31 December 2007) was sold during the third quarter of 2008.
Fiat Group Consolidated Financial Statements at 31 December 2008212