30 Business combinations and disposals of consolidated companies
Several smaller business combinations were conducted during the financial year, particularly in the Celesio division. The consideration transferred for the acquisitions totalled EUR 3 million and represented cash transactions during the financial year. Even in the aggregate, the acquisitions are not material for the presentation of the Haniel Group’s net assets, financial position, and results of operations. There is no contingent consideration from business combinations in the financial year.
The Celesio division with a total of 341 individual companies was deconsolidated during the financial year. The total assets and liabilities disposed of through this disposal are comprised as follows:
|EUR million||Carrying amounts|
|Property, plant and equipment||527|
|Investments accounted for at equity||78|
|Other non-current assets||36|
|Income tax assets||2|
|Receivables from investments and other current assets||301|
|Income tax assets||20|
|Cash and cash equivalents||476|
|Other non-current provisions||63|
|Trade payables and similar liabilities||2,271|
|Income tax liabilities||61|
|Other current liabilities||527|
The consideration received for the disposal was EUR 1,999 million. Taking into account the cash and cash equivalents of EUR 476 million in the disposed division, and the paid transaction costs of EUR 15 million, the total cash amount for the disposal was EUR 1,508 million. As at the deconsolidation date, the share of non-controlling interests in the Celesio division’s net assets was EUR 1,140 million. Taking into account transaction costs incurred during the financial year and the other comprehensive income of EUR -132 million to be reclassified to profit or loss, the net result from the disposal amounts to EUR 696 million in total, and is included in the profit after taxes from discontinued operations.