Annual Report 2013

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Note 26 Acquired and divested operations

Acquired operations

2012 2013
Acquired non-controlling interest

Olympic Group, Egypt 161 3
CTI Group, Chile 3 2
Acquired shares in associated company

50% share in Gångaren 13 Holding AB, Sweden 200
Total cash paid for acquisitions 164 205

In the first quarter of 2013 The Group acquired and subsequently partly divested the real estate company owning the Corporate head office to the Swedish pension foundation for SEK 200m. The divestment was made at fair value. The remaining investment in the real estate company is SEK 200m representing a 50% ownership. The shareholding is classified as an associated company and subject to equity accounting.

Additional non-controlling interest was acquired for an amount of SEK 3m in the Olympic Group in Egypt and for SEK 2m in the CTI Group.

In 2012, the allocation of acquisition cost for the CTI Group acquisition was finalized.

Furthermore, in 2012 non-controlling interest in Olympic Group in Egypt and CTI Group in Chile was acquired. In Egypt, 929,992 shares in the parent company of Olympic Group and 4,889,245 shares in the subsidiary Delta Industrial Company Ideal S.A.E. were purchased for a total consideration of SEK 161m. In Chile, 7,416,743 shares in Compañia Tecno Industrial S.A. (CTI) were purchased for an amount of SEK 3m.

Divested operations

No divestments were made in 2013 and 2012.

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