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Note 31 Acquisitions and divestments


2011
2010
Acquisitions and divestments had the following effects on PostNord Group's assets and liabilities, SEKm Acquisition Divestment Total
Acquisition Divestment Total
Goodwill 79 -78 1
2
2
Customer relationships 92 -20 72



Other intangible fixed assets 1
1



Other fixed assets 233 -79 154



Total fixed assets 405 -177 228



Current assets 119 -269 -150



TOTAL ASSETS 524 -446 78
2
2
TOTAL LIABILITIES -171 363 192



NET ASSETS

353

-83

270


2
2
Capital gain, divested operations/group companies
-80 -80



Other items affecting cash flow
-9 -22 -31



Purchase price paid/received -344 219 -125
-2
-2
Cash and cash equivalents (acquired/divested)
-34 -34



Net effect on cash and cash equivalents -344 185 -159
-2
-2
Divestments

PostNord continues to streamline operations within business area Strålfors. The SIS Identification Solution labeling operation was divested as of August 1. The conditional purchase consideration of SEK 155m was valued at fair value with account taken of the divested operation’s estimated development through 2014. In addition to the Swedish company Strålfors Identification Solution AB, SIS is comprised of Strålfors A/S, Stralfors AG and Stralfors Schweiz AG. The transaction included the November 1, 2011 sale of the assets and liabilities of the Norwegian company Strålfors AS following review by the Competition Authority. The impact on group profit is SEK -2m. Businesses within SIS have been transferred to EsonPac Group AB, in which Strålfors AB will own 20% of the shares through 2014 for a purchase price of SEK 155m. The holding is reported as an asset for sale.

Stralfors SAS in France sold the SCI du Pont St Jean Société Civile real estate company on December 22, 2011, giving rise to an impact on profit of SEK 1m.

Posten AB divested Fastighets AB Kvasten 8 as of August 1, 2011, with a consequent impact on profit of SEK 81m. The property no longer houses any self-run postal operations.

Acquisition of operations

Posten AB acquired 100% of the shares of the Norwegian companies Mereco AS and Eek Transport AS on July 1, 2011 for an aggregate purchase price of SEK 92m. Group profit includes an impact on profit of SEK 3m. Impact on profit would have totaled SEK 8m if the acquisitions had been made as of January 1, 2011.

Following antitrust clearance, Posten AB acquired Nils Hansson Logistics AB on September 1, 2011 for a purchase price of SEK 52m. Group profit includes an impact on profit of SEK 5m. Impact on profit would have totaled SEK -9m if the acquisition had been made as of January 1, 2011.

Post Danmark A/S has owned 51% of the shares in Transportgruppen A/S since 2007 and acquired an additional 41% of the shares on July 1, 2011 for a purchase price of SEK 14m. The company owns the remaining 8% of the shares following a buy-back from contractors. No full-year impact on profit was generated. Impact on profit would have totaled SEK -1m if the acquisition had been made as of January 1, 2011.

2011 Jan-dec,
SEKm
Goodwill Other intangible fixed assets Other fixed assets Current assets Total liabilities Total assets
Acquired





Eek Transport AS/Mereco AS 51 85 27 63 -93 133
Nils Hansson logistic AB 28 8 1 48 -33 52
Other

205 8 -45 168
Total acquired 79 93 233 119 -171 353
Divested





Strålfors Identification Solutions, SIS 21 77 50 267 -333 82
Fastighets AB Kvasten 8

28 2 -30 0
SCI du Pont St Jean Société Civile

1

1
Total divested 21 77 79 269 -363 83
Acquisition of real estate companies

As part of the new terminal structure, Posten AB acquired 100% of the shares in three companies during the first six months of 2011. All companies were purchased with cash. For the purpose of acquiring land in Rosersberg, Rosersberg Brevterminal AB was acquired on January 17, 2011 for SEK 50 thousand. Sigtuna Rosersberg Fastighetsutveckling AB was acquired on June 21, 2011 for SEK 100m. The Fastighets AB Jönköpings Barnarps Kråkebo 1:69 industrial property was acquired on March 8, 2011 for the purpose of constructing a pallet hub for Posten Logistik AB. The purchase price totaled SEK 3m.

Formation of real estate company

For the purpose of acquiring property for the Hallsberg terminal, AB Grundstenen 135576 was formed on May 19, 2011.