Group Management Report Corporate Governance Environment, Safety, and Corporate Social Responsibility Consolidated Financial Statements 109 Investments in associated companies Balance at Jan. 1, 2014 8,308 Additions 50,788 Result from associates (1,823) Dividends (582) Translation adjustments (146) Balance at Dec. 31, 2014 56,545 Additions 50,000 Result from associates (12,854) Dividends (497) Translation adjustments (2,778) Balance at Dec. 31, 2015 90,416 Investments in associated companies are accounted for by applying the equity method. Upon initial recognition in 2005, ALTANA’s share of the net assets acquired of the 39 % investment in Aldoro amounted to € 2.8 million which resulted in the recognition of good- will of € 4.4 million. On June 25, 2014, ALTANA and Landa Corporation concluded an equity financing agreement under which ALTANA acquired a non-controlling interest in Landa Digital Printing for € 100 million. In July 2014, in a first step an interest of 20.0 % in Landa was acquired for a cash payment of € 50 million. On January 15, 2015, the second step of the agreement was effected through a further cash payment of € 50 million. As a result, ALTANA’s interest rose to 33.3 %. ALTANA’s share in the net assets at the date of the increase of its sharehold- ings amounted to € 28.9 million. An amount of € 80.5 million was allocated to develop- ment cost and no goodwill was identified. 16. Investments in Associated Companies
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