Financial Statements - Solvay

80
Solvay Global Annual Report 2008
Innogenetics nv
In December 2008, the Solvay group fi nalized the purchase of 100 % of Innogenetics nv, a Belgian biotechnology
company, for a net cash outfl ow of EUR 221 million, of which EUR 189 million was paid in 2008 (including EUR 2 million
of acquisition costs) and EUR 32 million represents shares previously owned.
Innogenetics nv has been fully consolidated since September 30, 2008 (with impact on the income statement
from October 1, 2008).
The net assets acquired in the transaction and the resulting goodwill are:
EUR Million
Carrying
amount before
acquisition
Fair value
adjustments
Intangible assets 19 13 32
Tangible assets 12 0 12
Other investments 3 0 3
Deferred tax assets 0 0 0
Loans and other non-current assets 2 0 2
Non-current assets 36 13 49
Current assets other than cash and cash equivalents 21 0 21
Cash and cash equivalents 8 0 8
Current assets 29 0 29
Long-term provisions 0 0 0
Deferred tax liabilities 0 0 0
Long-term fi nancial debt 11 0 11
Non-current liabilities 11 0 11
Current liabilities 58 0 58
Net assets -4 13 9
Goodwill 212
Price paid at 31/12/2008 221
Bank balances and cash acquired 0
Net cash outlay on acquisition - prior years 32
Net cash outlay on acquisition - 2008 189
Innogenetics contributed EUR 10 million of Group sales and EUR -1 million of REBIT from October 1 to December 31.
If the Solvay Group had acquired 100 % and consolidated Innogenetics nv on January 1, 2008,
the impact for 2008 would have amounted to EUR 55 million on revenue and EUR -10 million on net income.
Total