Chrysler 2008 Annual Report Download - page 215

On 28 December 2007, the Group completed the steps being taken to establish a 50/50 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
(€ millions) 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
The consideration received for these sales of consolidated subsidiaries and the related net cash inflows in 2007 are as follows:
Total sales of of which
consolidated
(€ millions) subsidiaries Ingest Meridian Fiat India
Consideration received:
- Consideration due 158 50 63 37
- Less: Deferred sales proceeds, net (3) – – (3)
Total Consideration received 155 50 63 34
Net cash inflows on disposals:
- Consideration received 155 50 63 34
- Less: Cash and cash equivalents disposed of (15) (1) (8) (6)
Total Net cash inflows on disposals 140 49 55 28
- Reimbursement of loans extended by the Group’s centralised cash management 9 – 9 –
Total Net cash inflows generated 149 49 64 28
For the sake of completeness details of the consideration received for the sales of other investments and the related net cash
inflows in 2007 are provided as follows:
(€ millions) Total sales of other investments of which Mediobanca
Total Consideration received 251 225
Total Net cash inflows generated 251 225
Fiat Group Consolidated Financial Statements at 31 December 2008
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