In addition to the subsidiaries included in the consolidated financial statements, the KION Group has direct or indirect business relationships with a number of unconsolidated subsidiaries, joint ventures and associates in the course of its ordinary business activities. Transactions with these companies are conducted on an arm's length basis. The related companies that are controlled by the KION Group or that are able to exercise a significant influence over the KION Group are included in the list of shareholdings in the annex to these notes and in the following table:
Related parties |
|
|
|
Superlift Holding S.à r.l., Luxembourg |
Parent company |
Kohlberg Kravis Roberts & Co. L.P., New York, USA |
Entity with significant influence |
Goldman, Sachs & Co., New York, USA |
Entity with significant influence |
Superlift Funding S.à r.l., Luxembourg |
Affiliated company |
Superlift Funding S.à r.l., Luxembourg
Under a supplementary loan agreement dated 23 September 2009, investment funds advised by Kohlberg Kravis Roberts & Co. L.P. ('KKR') and Goldman Sachs Capital Partners extended the SFA to include an additional loan of €100,000 thousand to be paid via Superlift Funding S.à r.l., Luxembourg. The purpose of the supplementary loan was to further strengthen the operational and strategic options for the KION Group. Both the loan amount and the associated interest are repayable as a bullet payment on maturity (payment in kind 'PIK').
Shareholder loan agreement
Advisory agreement
As at the reporting date, the receivables due from related parties were as follows:
Receivables from related parties | ||
(€ thousand) |
2010 |
2009 |
|
|
|
Non-consolidated subsidiaries |
7,059 |
4,873 |
Associates and joint ventures |
25,129 |
15,422 |
Other related parties |
7,545 |
5,058 |
Total receivables from related parties |
39,733 |
25,353 |
As at the reporting date, liabilities to related parties were as follows:
Liabilities to related parties | ||
(€ thousand) |
2010 |
2009 |
|
|
|
Non-consolidated subsidiaries |
3,771 |
1,024 |
Associates and joint ventures |
45,027 |
44,532 |
Other related parties |
730,686 |
693,276 |
Total liabilities to related parties |
779,484 |
738,832 |