29 Acquisitions and Disposals of Subsidiaries

Assets and liabilities from acquisitions
In CHF million  
Notes  2010 2009
 
Consideration
 
Cash consideration
  15
Non-cash consideration
 
Total consideration transferred
  15
 
 
Identifiable assets acquired and liabilities assumed
 
Cash and cash equivalents
  2
Loans and receivables
  2
Property and equipment
17  0
Intangible assets including intangible insurance assets
18  4
Other financial liabilities
  –1
Deferred income tax liabilities
  –1
Other liabilities
  –1
Total identifiable net assets
  5
Non-controlling interests
  –1
Goodwill
18  11
Total
  15
 
Acquired loans and receivables
 
Fair value
  2
Gross contractual amounts receivable
  2
Estimated uncollectible cash flows
  0


In 2009, a financial advisory business in France was acquired by the Swiss Life Group. The purchase consideration amounted to CHF 15 million.

Assets and liabilities from disposals
In CHF million  
  2010 2009
 
Consideration
 
Consideration received in cash
  0 38
Deferred consideration
 
Total consideration received
  0 38
 
Assets and liabilities disposed
 
Cash and cash equivalents
  0 0
Financial assets available for sale
  28
Loans and receivables
  1 7
Investment property
  1
Intangible assets including intangible insurance assets
  0 1
Other assets
  0
Other financial liabilities
  –1 –2
Insurance liabilities
  –15
Employee benefit liabilities
  –1
Other liabilities
  0 –1
Net assets disposed of
  0 18
 
Gain/loss on disposals
 
Consideration received
  0 38
Net assets disposed of
  0 –18
Amounts recognised directly in equity
  0 –1
Gain (+)/loss (–) on disposals
  0 19


In September 2009, the sale of CEAT, Paris, was completed. The gain realised on the sale amounted to CHF 19 million.

 
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