1 – Financial assets

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(€ million) 2008 2007
Investments in subsidiaries 4,398.6 4,481.1
Investments in associates 186.2 244.1
Other investments, non-current 6.2 6.2
Loans to entities in the Group 260.7 11.4
4,851.7 4,742.8

Investments in subsidiaries

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(€ million) 2008 2007
As at 1 January 4,481.1 4,197.5
Dividends received -525.0
Capital contributions 18.2 15.0
Changes accounted for directly in equity 29.4 35.8
Results of subsidiaries -130.1 757.8
As at 31 December 4,398.6 4,481.1

Investments in associates

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(€ million) 2008 2007
As at 1 January 244.1 192.8
Dividends received -10.5 -16.4
Translation gains and losses 15.4 -20.2
Share of results of associates -62.8 87.9
As at 31 December 186.2 244.1

The following entities are the legal owners of shares of Akmerkez GYO A.S.: Bocan B.V. (7.7%), Bresta B.V. (7.9%), Corio N.V. (8.5%), Corio Real Estate España S.A. (<0.1%), Hoog Catharijne B.V. (7.5%), Patio Onroerend Goed B.V. (7.3%), Shopville GranReno SpA (<0.1%), SNC Les Ailes (<0.1%), VIB North America B.V. (8.0%). Corio N.V. has beneficial ownership.


Other investments, non-current

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(€ million) 2008 2007
As at 1 January 6.2 6.1
Other 0.1
As at 31 December 6.2 6.2

Source: Annual Report 2008, Chapter Financial Statements, page 179 (PDF, 179 kB)

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