24. Disposals
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Activities not qualifying as discontinued operations
In this section, disposals of subsidiaries, associates and activities are reported that do not qualify as discontinued operations in the sense of IFRS 5. The following disposals took place in 2018 and 2017:
On 27 December 2018, Clariant sold its 100% shares in Infrapark Baselland AG to GETEC heat & power GmbH for a net consideration of CHF 38 million. The loss recorded on the transaction in 2018 amounted to CHF 54 million gross and to CHF 43 million net of tax.
On 30 November 2017, Clariant sold its shares (36.03%) in New Zealand based Chemcolour Industries (NZ) Ltd. to Azelis Australia PTY Ltd. for a total consideration of CHF 8 million. The profit recorded on the transaction in 2017 amounted to CHF 3 million.
The result from disposals not qualifying as discontinued operations is reported under »Selling, general and administrative costs« in the income statement.
Other assets held for sale
An amount of CHF 15 million relates to property, plant and equipment held for sale in Turkey, Italy and in China (2017: CHF 22 million).
The International Financial Reporting Standards (IFRS) are international accounting standards. View entire glossary