Mercedes 2013 Annual Report Download - page 257

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F | Consolidated Financial Statements | Notes to the Consolidated Financial Statements
36. Related party relationships
Related parties are deemed to be associated companies, joint
ventures and non-consolidated subsidiaries as well as persons
who exercise a significant influence on the financial and busi-
ness policy of the Daimler Group. The latter category includes
all persons in key positions and their close family members.
At the Daimler Group, those persons are the members of the
Board of Management and of the Supervisory Board.
Most of the goods and services supplied within the ordinary
course of business between the Group and related parties
comprise transactions with associated companies and joint
ventures and are included in table  F.97.
Associated companies. A large proportion of the sales and
purchases of goods and services with associated companies
results from business relations with Rolls-Royce Power Systems
Holding GmbH (RRPSH) and/or Tognum AG (Tognum), which
is a subsidiary of RRPSH, and MBtech Group GmbH & Co. KGaA
(MBtech Group). Tognum purchases engines, parts and ser-
vices from the Group. MBtech Group develops, integrates and
tests components, systems, modules and vehicles worldwide.
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
invest in BAIC Motor. BAIC Motor is the passenger-car unit
of BAIC Group, one of the leading automotive companies in China.
On November 18, 2013, this transaction closed and BAIC
Motor issued new shares to Daimler representing a 12% stake
in BAIC Motor for a purchase price of €627 million including
incidental acquisition costs. Daimler received two seats on the
board of directors of BAIC Motor. In December 2013, the
shareholders of BAIC Motor declared a dividend to its share-
holders to be paid, of which €23 million are attributable
to Daimler. The Group is in the process to perform an allocation
of the purchase price on the identifiable assets and liabilities.
F.97
Transactions with associated companies and joint ventures
Sales of goods
and services
and other income
Purchases of goods
and services
and other expense Receivables Payables
at December 31, at December 31,
2013 2012 2013 2012 2013 2012 2013 2012
In millions of euros
Associated companies 1,184 811 417 425 713 212 61 69
Joint ventures 2,034 2,695 390 360 234 627 54 21
thereof BBAC 1,685 1,640 54 23 569 372 12 5