29 Acquisitions and Disposals of Subsidiaries

Assets and liabilities from acquisitions
In CHF million  
Notes  2011
 
Consideration
 
Cash consideration
  10
Non-cash consideration
 
Total consideration transferred
  10
 
Acquisition-related costs
 
Commission expense
  0
Other expenses
 
Total
  0
 
Identifiable assets acquired and liabilities assumed
 
Cash and cash equivalents
  1
Financial assets available for sale
  2
Loans and receivables
  2
Property and equipment
17  0
Intangible assets including intangible insurance assets
18  2
Other assets
  0
Financial liabilities
  0
Employee benefit liabilities
  –1
Deferred income tax liabilities
  –1
Other liabilities
  –1
Total identifiable net assets
  4
Non-controlling interests
  –3
Goodwill
18  9
Total
  10
 
Acquired loans and receivables
 
Fair value
  2
Gross contractual amounts receivable
  2
Estimated uncollectible cash flows
  0


In March 2011, the Swiss Life Group acquired a majority share of Viveris REIM, Marseilles, a real estate management company. The voting interest of the Group was 68.3% as at 31 December 2011. The revenue of Viveris REIM, Marseilles, amounted to CHF 7 million from the acquisition date to the end of 2011 and the Group’s share of the net loss to CHF 0.1 million.

In 2010, no acquisitions of subsidiaries took place.

In 2011 and 2010, no significant disposals of subsidiaries took place.

 

The future starts here.