Chrysler 2015 Annual Report Download - page 163

2015 | ANNUAL REPORT 163
SCOPE OF CONSOLIDATION
At December31, 2015 and December31, 2014, FCA had the following significant direct and indirect interests in the
following subsidiaries:
At December 31, 2015 At December 31, 2014
Name Country
Shares held
by the Group
Shares
held by NCI
Shares held
by the Group
Shares
held by NCI
Directly held interests
FCA Italy S.p.A. Italy 100.00% — 100.00% —
Ferrari N.V. Italy 80.00% 20.00% — —
Maserati S.p.A. Italy 100.00% — 100.00% —
Magneti Marelli S.p.A. Italy 99.99% 0.01% 99.99% 0.01%
Teksid S.p.A. Italy 100.00% — 84.79% 15.21%
Comau S.p.A. Italy 100.00% — 100.00% —
Indirectly held interests
FCA US LLC U.S. 100.00% — 100.00% —
Ferrari S.p.A. Italy 80.00% 20.00% 90.00% 10.00%
Each of these subsidiaries holds direct or indirect interests in other Group companies. The Consolidated Financial
Statements included 303 and 306 subsidiaries consolidated on a line-by-line basis at December31, 2015 and
2014, respectively.
CHANGES IN THE SCOPE OF CONSOLIDATION
The following significant changes in the scope of consolidation occurred during the years ended December 31, 2015,
2014, and 2013:
2015
In January 2015, FCA entered into a merger agreement with Mercurio S.p.A. (“Mercurio”) whereby the net assets
of FCA’s wholly owned subsidiary, La Stampa, were merged with Mercurio’s wholly owned subsidiary, Società
Edizioni e Pubblicazioni S.p.A. (“SEP”), which owned and operated the Italian newspaper “Il Secolo XIX.” As a result
of the merger agreement, FCA owns 77 percent of the combined entity, Italiana Editrice S.p.A., with the remaining
23 percent owned by Mercurio. In addition, FCA granted Mercurio a put option to sell its entire share in Italiana
Editrice S.p.A., which is exercisable from January 1, 2019 to December 31, 2019. Given the net assets acquired
by FCA constitute a business and FCA was deemed to be the acquirer and in control of Italiana Editrice S.p.A., the
Group accounted for the merger transaction as a business combination. The Group recorded the identifiable net
assets acquired at fair value and recognized €54 million of goodwill.
2014
In January 2014, FCA acquired the remaining 41.5 percent interest in FCA US previously not owned (described
below).
In May 2014, FCA disposed of a subsidiary within the Components segment (Fonderie du Poitou Fonte S.A.S.).
2013
In October 2013, FCA acquired the 50 percent remaining interest of VM Motori Group previously not owned from
General Motors.
In November 2013, the investment in the Brazilian company, CMP Componentes e Modulos Plasticos Industria e
Commercio Ltda, which was previously classified as held for sale on acquisition, was consolidated on a line-by-line
basis as a result of changes in the plans for its sale.