Gains (losses) on disposals and impairments of investments, net

In the first half of 2013 gains (losses) on disposals and impairments of investments, net, amount to €1,532 million. Details are as follows:

€ million Half I 2013  Half I 2012  Change
Sales:        
SGS 1534
(a) 0.0  1,534.0
Alpitour (2.5)
(b) 162.9
(c) (165.4)
Other 0.5  5.2  (4.7)
Sequana. dilution from share increase 0.0  (147.4) (d)  147.4
Total 1,532.0  20.7  1,511.3
(a) Determined by recording the balance of the available-for-sale financial assets fair value reserve relating to SGS in the income statement at the date of finalizing the sale (€1,575.2 million), net of the negative difference of €41.2 million between the fair value of the investment determined at the same date on the basis of its market price (€2,044.9 million) and the sales price agreed between the parties (€2,003.7 million, net of expenses on the sale of €0.1 million). (b) Reduction in the Deferred Price on the sale of Alpitour as a result of certain disputes that arose with the buyer. (c) Equal to the difference between the proceeds of €223.8 million (net of expenses of €1.2 million incurred on the sale) and the carrying amount at June 30, 2011 of €60.9 million. (d) Of which -€103.8 million is for the fair value adjustment, -€50.6 million for the diluting effect on capital and +€7 million for other consolidation adjustments.

Further details on the transaction for the sale of the investment in SGS are presented in the “Significant events in the first half and Subsequent Events”.

 

Commercial Register No.64236277 Note legali | Credits