| |
2016 |
2015 |
| |
% of investment (*) |
% of investment (*) |
| Subsidiary, associate and joint venture name |
Country of incorporation |
Nature of business |
Direct |
Indirect |
Direct |
Indirect |
| Equity consolidation method |
| Adocim Cimento Beton Sanayi ve Ticaret A.S. |
Turkey |
Cement producer |
- |
50,000 |
- |
50,000 |
| Companhia Industrial De Cimento Apodi (4) |
Brazil |
Cement producer |
- |
47,000 |
- |
- |
| Apodi Concretos Ltda (4) |
Brazil |
Ready mix |
- |
47,000 |
- |
- |
| ASH Venture LLC |
U.S.A. |
Processing of fly ash |
- |
33,000 |
- |
33,000 |
| Ecorecovery SA |
Greece |
Engineering design services for solid and liquid waste facilities |
- |
40,000 |
- |
40,000 |
| Karieri AD |
Bulgaria |
Quarries & aggregates |
- |
48,711 |
- |
48,711 |
| Karierni Materiali AD |
Bulgaria |
Quarries & aggregates |
- |
48,764 |
- |
48,764 |
| Vris OOD |
Bulgaria |
Quarries & aggregates |
- |
48,764 |
- |
48,764 |
(*) Percentage of investment represents both percentage of shareholding and percentage of control
Significant Group structure changes
Fiscal year 2016
(1) Acquired companies incorporated in the consolidated financial statements with full consolidation method
(2) Absorbed subsidiaries
(3) On 31 May 2016, the Group formed the company Adocim Marmara Cimento Beton Sanayi ve Tikaret A.S. with ownership percentage 50% and on 22 August 2016, it acquired the remaining 50%.
(4) Acquired companies incorporated in the consolidated financial statements with equity consolidation method
Movement of the Company's participation in subsidiaries
| (all amounts in Euro thousands) |
2016 |
2015 |
| Participation in subsidiaries on 1st January |
844.762 |
845.807 |
| Share capital increase/(decrease) in subsidiaries |
17.651 |
-1.180 |
| Other |
244 |
135 |
| Participation in subsidiaries on 31st December |
862.657 |
844.762 |