CREDIt RAtING OF ANADOLU EFES

Anadolu Efes Biracılık ve Malt Sanayii Anonim Şirketi
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2010
(Currency - Unless otherwise indicated thousands of Turkish Lira (TRL))
NOTE 1. GROUP’S ORGANIZATION AND NATURE OF ACTIVITIES (continued)
List of Subsidiaries (continued)
Subsidiary Country Principal Activity Segment
Anadolu Efes Dış Ticaret A.Ş. (Aefes Dış Ticaret) Turkey
Turkish
Foreign trade Other 99,62 99,62
Cypex Co. Ltd. (Cypex)
Republic
of Northern
Cyprus
Marketing and distribution of beer Other 99,99 99,99
Anadolu Efes Technical and Management
Consultancy N.V. (AETMC)
Efes Holland Technical Management
Consultancy B.V. (EHTMC)
Effective Shareholding
and Voting Rights %
2010 2009
The
Netherlands Providing technical assistance
Antilles
Other 99,75 99,75
The
Providing technical assistance
Netherlands
Other 99,75 99,75
Caspian Marketing Ltd. Azerbaijan Marketing and distribution of beer Other 100,00 100,00
Efes Deutschland GmbH (Efes Germany) Germany Marketing and distribution of beer Other 100,00 100,00
(1) Shares of EBI were traded on the London Stock Exchange as of December 31, 2009. The cancellation of listing on
London Stock Exchange is effective as of October 6, 2010 (Note 3).
(2) The official merger of Amstar and Rostov Beverages with Efes Moscow was completed in March 2010. Following this
merger, as a part of the restructuring of Efes Beer Group Companies, the official merger of ZAO Siberian Brewery Company
and Stary Melnik was completed in October 2010.
(3) Subsidiaries of Efes Moscow.
(4) Subsidiaries of KV Group.
(5) Company’s beer operations in Turkey form the Turkey Beer Operations together with Ef-Pa and Tarbes.
(6) As of October 2010, Company acquired EBI shares, representing approximately 26,53% of the issued share capital of
EBI (Note 3).
(7) In December 2000, ERIC adopted a plan of liquidation and as a result, changed its basis of accounting from going
concern basis to a liquidation basis.
(8) Dissolved down in 2010 during the restructuring of KV Group companies.
(9) In 2010, Knyaz Rurik has been acquired by EBI and AETMC and included in the scope of full consolidation (Note 3).
(10) After the acquisition of majority interests of Knyaz Rurik by EBI in 2010, Mutena Maltery, which was accounted as non
current financial investments, became subsidiary of EBI and is included in consolidation by using full consolidation method
(Note 3).
ANADOLU EFES ANNUAL REPORT 2010
149