Annual report 2001 - GL events

64 65
2-2-2 Consolidation scope
The consolidation scope is presented in full in note 31.
The principal variations in the consolidation scope are
mentioned in note 1.
In other respects, Générale Location created the following
companies :
• Sodem System which on 1 June 2001 acquired the assets
of the company Sodem placed in official receivership for
the following amount 1.25 M€,
• GL USA to welcome the operating unit of the contract
for the Salt Lake City Olympic Games and to develop the
Group’s activity in the United States of America,
• GL Convenciones Barcelona, a company which will be in
charge of the operation of the International Convention
Center of Barcelona,
• GL Holding BV, a company which acquired the company
Owen Brown.
The inclusions and the exclusions for the period are as
follows :
Companies Date of inclusion or exclusion in 2001
• OWEN BROWN • Inclusion 1 July 2001
• PACKAGE • Inclusion 1 September 2001
• CEE (subsidiary PACKAGE) • Inclusion 1 September 2001
• CENTRE INFOBATIR (sub. PACKAGE) • Inclusion 1 September 2001
• NOREXPO (subsidiary PACKAGE) • Inclusion 1 September 2001
• SCI 88 • Exclusion 30 June 2001
• SCI FAVIER (subsidiary SCI 88) • Exclusion 30 June 2001
• SCI PRISMA (subsidiary SCI 88) • Exclusion 30 June 2001
• SCI RASPAIL (subsidiary SCI 88) • Exclusion 30 June 2001
• SCI VACHON LISSES (subsidiary SCI 88) • Exclusion 30 June 2001
• Sodem System • Creation 1 June 2001
• GL Europe Holding BV • Creation 1 July 2001
• GL USA • Creation 7 February 2001
• GL Convenciones Barcelona • Creation 29 October 2001
• Boîte à Sons • Global integration 1 January 2001
• A2M Congrès • Inclusion 1 January 2001
2-2-3 Initial consolidation of an entity :
When a subsidiary is first consolidated, the Group releases :
• a valuation difference relating to identifiable assets and
liabilities, which corresponds to the difference between
the value of inclusion within the consolidated financial
statement and the accounting value of the item in the
subsidiary’s financial statement,
• acquired goodwill corresponding to the difference
between the cost of acquisition of the shares and the
proportion of equity acquired after adjustment for all
valuation differences. The cost of acquisition of the
shares is equal to the amount paid to the seller, plus the
costs directly related to the acquisition, and capable of
being identified in a reliable manner.
For most part, the incidence on the financial statements
of acquisitions of the period is as follows :
(In K€) OWEN BROWN Group PACKAGE & its subsidiaries CEE,
INFOBATIR & NOREXPO
Consolidated acquisition value
Package share value
(including clause of revision calculated 9 995 495
on the basis of estimated possible adjustments
at 31 December 2001)
Dates of acquisition July 2001 September 2001
Reevaluations performed
• Goodwill at 31 December 2001 5 074 2 185
for the whole sub-group
Acquired goodwill Nil Nil
Acquired goodwill is evaluated each year in accordance with policies usually adopted by the Group. Acquired goodwill is
amortized on a straight line basis over a duration of five years.