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KD Holding Group
Notes to Consolidated Financial Statements as at and for the year ended 31 December 2007
10. Investments in associated companies
(in EUR) 2007 2006
Balance at 1 January 45,119,877 20,730,216
Acquisitions 23,412,841 24,324,775
Disposals (4,228,866) (3,047,016)
Business combination (1,076,688) (1,205,909)
Share of profit and revaluation 10,922,133 6,802,550
Dividends (2,487,951) (129,473)
Exchange differences 26,475 56,977
Impairment - (2,412,243)
Balance at 31 December 71,687,821 45,119,877
The Group acquired an additional share of
Nama d.d. and holds a total share of 48.46%.
The additional investment amount was EUR
In 2007 the Group invested EUR 750,009 in a
newly established risk equity fund in Holland and
acquired a 48.21% share of the fund.
8,739,073. In the fair value of net assets aquired
288
of EUR 6,284,317, goodwill is included as a part
of the carrying value of this investment of EUR
2,454,756.
The Group acquired an additional share of Deželna
banka Slovenije d.d., Ljubljana and holds a total
share of 33.68%. The additional investment
amounts to EUR 216,120 and represents
approximately the fair value of net assets acquired;
therefore no goodwill or excess has been calculated.
The Group disposed of a part of its investment
in Žičnice Vogel Bohinj d.d. (19.04%) and holds
a total share of 21.54%. At disposal the Group
incurred EUR 99,098 in losses which is recognised
in the income statement as net financial
income - associates.
In 2007 the Group invested EUR 1,558,081 in its
own internally managed mutual funds and disposed
of EUR 3,835,474 of its own funds. The funds
listed below are treated as associated companies.