ARCO VARA AS - NASDAQ OMX Baltic

F-45
1.01.2005
Cash and cash equivalents -1 810
Other current assets -978
Investment property (Note 21) -83 845
Intangible assets (Note 23) -1 204
Borrowings -56 517
Other payables -1 034
Minority interest -30 286
No shares in subsidiaries were disposed of the Group in 2006.
7.3 Changes in the Group's ownership in joint ventures
Acquisitions (establishment) of joint ventures
In 2006, the Group established the following joint ventures:
Company Segment
The Group's share in the
acquired joint venture
Share capital
contribution (in
thousands of kroons)
Arco & Koger Investeeringute OÜ Development 50% 20
Barrow Investments OÜ Development 50% 20
Castleberry OÜ Development 50% 20
Cromer Trade OÜ Development 50% 20
Dreilini-Ulbroka-1 SIA Development 40% 22
Hopson Capital OÜ Development 50% 20
Kastner Grupp OÜ Development 50% 20
Koduküla OÜ Development 50% 100
Noland Grupp OÜ Development 50% 20
Redman Invest OÜ Development 50% 20
Snowden OÜ Development 50% 20
Steadman OÜ Development 50% 20
Arco Rumeenia Valduse OÜ Service 50% 20
Arco Real Estate Consulting SRL Service 50% 22
Total 364
Disposals of joint ventures
In 2006, the Group disposed of a 50% stake in the joint venture Lehe Elamud OÜ. The company's
sales price was 1 343 thousand kroons, subject to payment before the end of 2007. The Group posted
42 thousand kroons profit from the transaction.
The effect of the disposal of Lehe Elamud OÜ on the Group's assets and liabilities:
in thousands of kroons
Receivable related to the cash pooling account -383
Receivables and prepayments -728
Inventories -1 812
Property, plant and equipment (Note 22) -5
Short-term payables and prepayments -377
Long-term borrowings -1 250