[38] Related party disclosures

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 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

2011

2010

 

 

 

Non-consolidated subsidiaries

4,403

7,059

Associates

17,262

22,249

Joint ventures

2,964

2,880

Other related parties

4,825

7,545

Total receivables from related parties

29,454

39,733

As at the reporting date, liabilities to related parties were as follows:

Liabilities to related parties

€ thousand

2011

2010

 

 

 

Non-consolidated subsidiaries

4,188

3,771

Associates

39,955

41,537

Joint ventures

4,719

3,490

Other related parties

769,255

730,686

Total liabilities to related parties

818,117

779,484

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