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## Acquisitions and associates 

Key developments 2013 

## Chongqing 

Completion of the step acquisition of Chongqing Brewery Group in China in December for a consideration of DKK 3,064m, including a contingent consideration of DKK 428m. 

## Nordic Getränke 

Step acquisitions of entities acquired from Nordic Getränke through the assumption of debt with a fair value of DKK 143m. 

## South Asian Breweries 

Completion of the step acquisition of South Asian Breweries Group in India in October changing it from a proportionately consolidated entity to a fully consolidated subsidiary. 

## Acquisition of subsidiaries 

## STEP ACQUISITION OF ENTITIES IN 2013 

In 2013, Carlsberg gained control of Chongqing Brewery Group (China), South Asian Breweries Group (India) and distribution entities acquired from Nordic Getränke (Germany). 

## CONSIDERATION AND GOODWILL RECOGNISED 

<img src='content_image/172642.jpg'>

These step acquisitions were a natural step for Carlsberg and in line with the strategy of obtaining full control of key operating activi- ties. The calculation of goodwill, DKK 6,166m in total, represents staff competences as well as expectations of positive growth. See the table below. 

