Mercedes 2012 Annual Report Download - page 256

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7 | Consolidated Financial Statements | Notes to the Consolidated Financial Statements
38. Subsequent events
On February 1, 2013, Daimler, Beijing Automotive Group Co.,
Ltd. (BAIC Group) and BAIC Motor Corporation Ltd. (BAIC
Motor) signed a binding agreement according to which Daimler
will to invest approximately €0.6 billion in BAIC Motor. BAIC
Motor is the passenger car unit of BAIC Group, one of the lead-
ing automotive companies in China. The investment will take
place through the issuance of new shares to Daimler represent-
ing a twelve percent stake in BAIC Motor. Daimler’s share-
holding in BAIC Motor is subject to the approval of the relevant
authorities. The approvals for the closing of the transaction
will require at least nine months. The agreement includes the
stipulation that Daimler will receive two seats on the board
of directors of BAIC Motor. Furthermore, the two companies
agreed that BAIC Motor will increase its stake in the joint
venture Beijing Benz Automotive Co., Ltd. (BBAC) by 1% to 51%.
At the same time, Daimler will increase its stake in the inte-
grated sales joint venture Beijing Mercedes-Benz Sales Service
Co., Ltd. by 1% to 51%. Daimler will determine the effects on
the Group’s consolidated financial statements; a reliable estimate
of the effects cannot be made at present.
The Group has announced workforce adjustments for the
Daimler Trucks segment in Germany, the United States and Brazil.
It is assumed that approximately up to 1,300 employees will
be laid off in the area of production in the United States, while
approximately 1,400 production employees in Brazil will be
reemployed following in the current layoff. In non-productive
areas, reductions of approximately 800 jobs are expected
in Germany and of approximately 850 jobs in Brazil. Discussions
with employee representatives are continuing. The effects
on the consolidated financial statements can only be calculated
after the relevant decisions have been made.
39. Additional information
German Corporate Governance Code. The Board
of Man agement and the Supervisory Board of Daimler AG
have issued a declaration pursuant to Section 161 of the
German Stock Corporation Act and have made it permanent
available to their shareholders on Daimler’s website at
w http://www.daimler.com/company/organization-and-
management/corporate-governance/declaration.
Third-party companies. At December 31, 2012, the Group
was a shareholder of the companies included in table  7.95
that meet the criteria of a significant third-party company
as defined by the German Corporate Governance Code.
Information on investments. The statement of investments
of Daimler AG pursuant to Sections 285 and 313 of the German
Commercial Code (HGB) is presented E on pages 266 ff.
 7.96 Information on equity and earnings is omitted pursuant
to Section 286 Subsection 3 Sentence 1 No. 1 of the HGB if such
information is of minor relevance for a fair presentation of
the financial position, cash flows and profitability of Daimler AG.
In addition, it is indicated in the statement of investments
(footnote 7) which consolidated companies are exempt pursuant
to Section 264 Subsection 3 or Section 264b of the HGB from
the requirement to disclose their financial statements or to pre-
pare a management report or notes to their financial state-
ments. The consolidated financial statements of Daimler AG
releases those subsidiaries from those requirements.
Third-party companies
Name of the company Renault SA2
Nissan Motor
Company Ltd.3
Headquarters of the company
Boulogne-Billancourt,
France
Tokyo,
Japan
Equity interest in %13.1 3.1
Total equity in millions of euros 24,292 28,721
Net profit in millions of euros 1,772 3,137
1 As of December 31, 2012.
2 Based on IFRS consolidated financial statements
for the year ended December 31, 2012.
3 Based on national consolidated financial statements
for the year ended March 31, 2012.
7.9 5