Business acquisitions

No business acquisitions were made in the first half of 2014.

Business disposals

No business disposals were made in the first half of 2014.

Changes in ownership interest without loss of control

In the first half of 2014, the legal structure of Repower in Switzerland that has evolved over the years was changed with effect from 1 January 2014. Repower Klosters AG and Repower Holding Surselva AG were merged into Repower Ilanz AG, which was then renamed as Repower Schweiz AG. The real estate companies Repower Immobilien AG and Repower Consulta AG were merged into Repower AG. As part of this simplification of the legal structure, Repower AG acquired minority interests in Repower Klosters AG and Repower Holding Surselva AG. The net cash outflow of TCHF -185 is offset against the minority interests totalling TCHF -591 and outgoing treasury shares in the amount of TCHF 1. The difference was allocated to the majority shareholder's capital.

Companies included according to the equity method

There were no purchases or sales, nor were there any changes in ownership interest in the first half of 2014.