15 Investments in Associates

In CHF million 
Notes  20092008
Balance as at 1 January
  43772
Additions
  2530
Reduction due to loss of significant influence
  –373
Classification as assets held for sale and other disposals
  0
Share of results
  710
Share of amounts recognised directly in equity
26  00
Impairment losses
  –1–159
Dividends paid
  –5–9
Foreign currency translation differences
  4–7
Balance as at end of period
  71437
 
Share of contingent liabilities
  0


Goodwill relating to investments in associates is included in the carrying amount of investments in associates in accordance with IAS 28 (revised) Investment in Associates.

Investments in associates: summarised financial information
Amounts in CHF million 
 
Assets

Liabilities

Net assets
Share of
net assets

Revenues

Results
Share of
results
Direct
share
 
2009
 
Crédit et services financiers (CRESERFI), Paris
  313169144486513433.4%
Technopark Immobilien, Zürich
  101574415143133.3%
LGT Swiss Life Non Traditional Advisers, Vaduz
  936375243.7%
Parking de Bellefontaine, Lausanne
  651020038.3%
Other
  241311512–2–1n/a
Total
  45324720671100196n/a


2008
 
MLP, Wiesloch
  2 3691 528841370100–158–15924.3%
Crédit et services financiers (CRESERFI), Paris
  315180135457214533.4%
Technopark Immobilien, Zürich
  101574415143133.3%
LGT Swiss Life Non Traditional Advisers, Vaduz
  1037386343.7%
Parking de Bellefontaine, Lausanne
  761010038.3%
Other
  189941011n/a
Total
  2 8201 7831 037437205–134–149n/a


In May 2009, Aviga AG, Zurich, was founded.

In April 2009, 8.4% of the share in MLP, Wiesloch, was sold. The investment in MLP was thus reclassified to financial assets available for sale.

On 20 November 2008, the Swiss Life Group completed the acquisition of the 24.3% stake in MLP, Wiesloch. The published price quotation for the investment in MLP as at 31 December 2008 was CHF 383 million. The impairment losses in 2008 of CHF 159 million were related to MLP, Wiesloch.

 
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