Volvo 2000 Annual Report Download - page 87

Holdings of shares and participations are specified on pages 90–91. Changes in holdings of shares and participations
are shown below.
Group companies Non-Group companies
1998 1999 2000 1998 1999 2000
Balance December 31, previous year 39,868 45,193 33,528 1,051 2,131 27,596
Acquisitions/New issue of shares 3,131 704 855 1,049 25,518 1,335
Divestments (1,101) (12,605) (12) – – (316)
Shareholder contribution 4,203 1,146 5,730 76 – –
Write-downs (908) (910) (372) (45) (53) (28)
Balance December 31, current year 45,193 33,528 39,729 2,131 27,596 28,587
Shares and participations in Group companies
Newly issued shares were subscribed for in VNA Holding
Inc for 411, Volvo Truck & Bus Ltd, 211 and in Volvo
China Investment Co Ltd for 194.
Group internal acquisitions were made in Volvo Aero
Holding Norge AS and in Volvo Lastebiler og Busser
Norge AS for 29, following which the companies were
merged with A/S Masten and Volvo Norge AS.
Shares in Eddo Restauranger AB were acquired from
AB Volvo Penta and Volvo Truck Corporation for 10,
following which shares with a book value of 6 were sold
to Amica AB. The remaining holding with a book value of
6 is then accounted for as shares in non-Group com-
panies.
Shareholder contributions that increased the book
values were made to VFHS Finans AB, 3,460, Volvo Bus
Corporation, 1,054, Volvo Holding Sverige AB, 767,
Volvo Aero Corporation, 302, Volvo Technology Transfer
AB, 50, Volvo Business Services AB, 23, Volvo Inter-
national Holding BV, 7 and to the newly formed company
Volvo Mobility Systems AB, 7.
A shareholder contribution of 60 was made to Fortos
Ventures AB. On December 31, 2000 the holding was
written down by 104.
Write-downs were carried out at the end of the year
on holdings in Volvo International Holding BV, 231, Volvo
Penta UK, 28 and Volvo Aero Turbines UK, 9.
1999: Volvo Personvagnar Holding AB received a
shareholder contribution of 135, after which the share-
holdings, 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 by accrued expenses of 10 in connection
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
holdings 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.
85
Note 11 Investments in shares and participations