Volvo 1999 Annual Report Download - page 91

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Holdings of shares and participations are specified on pages 93–95. Changes in holdings of shares and participations
are shown below. Group companies Non-Group companies
1997 1998 1999 1997 1998 1999
Balance December 31,
previous year 46,893 39,868 45,193 7,025 1,051 2,131
Acquisitions 1,014 3,131 704 152 1,049 25,518
Divestments (613) (1,101) (12,605) (6,114) – –
Shareholder contribution 818 4,203 1,146 – 76 –
Write-downs (8,244) (908) (910) (12) (45) (53)
Balance December 31,
current year 39,868 45,193 33,528 1,051 2,131 27,596
Volvo Personvagnar Holding AB received a sharehold-
er contribution of 135, after which the shareholdings,
10,892 were sold to Ford Motor Company. In connection
with the sale, Volvo Car Finance UK Ltd., 431 and Volvo
Car UK Ltd., 265 were sold to Volvo Personvagnar AB.
Volvo Construction Equipment North America Inc was
acquired from Volvo Construction Equipment NV for 412,
after which the holdings were used as a shareholder
contribution to VNA Holding Inc. The value of VNA
Holding Inc. further increased by 7 concerning shares in
Volvo Information Technology North America Inc., which
was presented as a shareholder contribution in 1998.
Holdings in Försäkringsaktiebolaget Volvia, book
value 601, were sold to Volvia Holding AB.
Volvo Malaysia Sdn Bhd (formerly Federal Auto
Industrial Sdn Bhd) was purchased from Federal Auto
Holding Sdn Bhd for 26, after which a shareholders’
contribution of 22 was presented, which increased the
book value.
Shares in Volvo Penta Italia SpA were acquired from
AB Volvo Penta and then sold to Volvo Holding Italia
SpA.
The book value of Mexicana de Autobuses SA de CV
was increased with accrued expenses of 10 in connec-
tion with the acquisition. Holdings were written down at
the end of the year by 681.
Newly issued shares were subscribed for in Volvo
Truck & Bus Ltd. for 202, in Volvo Holding Mexico SA de
CV, 42, and in Volvo Aero Turbines UK Ltd. for 8.
Shareholder contributions that increased book values
were made to Volvo Aero AB, 269, Volvo International
Holding BV, 182, Volvo Information Technology AB, 75,
Volvo Holding Sverige AB, 25, and Volvo Technology
Transfer AB, 20.
Write-downs were carried out at the year-end on hold-
ings in Volvo Information Technology AB 67, Volvo
Holding Italia SpA, 49, Fortos Ventures AB, 38, Volvo
Holding Danmark AS, 30, Volvo International Holding BV,
28, Volvo Holding Mexico SA de CV, 11 and Volvo
Business Services AB, 6.
1998: Volvo Truck North America Inc. was acquired
from Volvo Truck Corporation for 568 and Volvo
Information Technology North America Inc. was acquired
from Volvo Information Technology AB for 5. The com-
panies were then conveyed to VNA Holding Inc. as a
shareholder contribution and increased the book value
in that company.
Shareholder contributions were made to Volvo
Treasury AB with 1,550. December 31, 1998 the holding
was written down by 854. Volvo Group Finance Europe
BV was acquired for 1,003 from Volvo Treasury AB.
Mexicana de Autobuses SA de CV was acquired for 764.
As part of the restructuring of the market companies
in Great Britain, six companies were acquired internally in
The Group for a total of 763, including Volvo Car Finance
UK Ltd., Volvo Car UK Ltd. and Volvo Penta UK Ltd.
Certain restructuring was also carried out in Denmark,
whereby Volvo Holding Danmark A/ S was acquired for 1
and a shareholders’ contribution of 46 was paid to in-
crease the book value. Volvo Personvogne Danmark A/ S
was acquired for 20, after which shares with a net worth
of 86 were transferred to Volvo Holding Danmark A/ S
as a shareholder contribution.
Additional shares in Group companies were acquired
for 7. Danafjord AB, with a book value of 508, was sold
to Sotrof AB.
Shareholder contributions, which increased book val-
ues were also made to Volvo Bus Corporation, 1,650,
Volvo Aero AB, 172, Volvo International Holding BV, 70,
Volvo Holding Italia SpA, 45, Volvo Business Services
AB, 10 and to Volvo Holding Sverige AB, 1.
The holding in Volvo Information Technology AB was
written down by 54.
1997: The shares in Volvo Personvagnar Holding AB
were written down by 8,026 in connection with dividends
received. Fortos Ventures AB was purchased from Volvo
Personvagnar Holding AB for 550. The shares were writ-
ten down by 210 in connection with dividends received. .
VAC North America Inc. was acquired from Volvo Aero
AB for 316 and Volvo Group Treasury North America Inc.
was acquired from Volvo Treasury AB for 148. The
acquired companies were then conveyed, together with
Volvo Group North America Inc., 34, to VNA Holding Inc.
as a shareholder contribution and increased the book
value in that company.
Volvo Transport AB was sold to Volvo Transport
Holding AB for 88.
A shareholder contribution of 25 was made to the
newly formed company Volvo Teknisk Utveckling AB, fol-
lowing which the shares of the company were sold to
Volvo Technology Transfer AB, also a newly formed com-
pany. .
Shareholder contributions that increased book values
were made to Volvo Technology Transfer AB, 74, Celero
Support AB, 24, and Volvo Aero AB 196. The holding in
Volvo Technology Transfer AB was written down by 8 at
year-end.
Investm ents in shares and participations Note 11