26 Assets and liabilities held for sale

Morteratsch power plant held for sale

Tangible assets with a carrying value of TCHF 8,321 held for sale at 31 December 2016 relate to the Morteratsch hydropower plant, in the Market Switzerland segment, which under the terms of an agreement is to be sold in 2017 to Kraftwerk Morteratsch AG, a joint venture established in 2016.

All assets and liabilities held for sale the previous year were disposed of in 2016.

Assets and liabilities held for sale: SEI S.p.A.

In the 2016 financial year the assets and liabilities of SEI S.p.A. were reassigned to their original balance sheet items, and the company was wound up. Translation gains of TCHF 2,456 were reclassified to profit or loss as other operating income in the Market Switzerland segment. Non-controlling equity interests of TCHF 177 were eliminated. At the end of the previous year the net assets of the disposal group, totalling TCHF -8,203, had been assigned to the Market Italy segment. At 31 December 2015 translation gains for SEI S.p.A., which were contained in Repower Group’s equity, amounted to TCHF 2,522 for the Repower Group and TCHF 1,704 for the minority interests.

Assets and liabilities held for sale: connecta ag

In June 2016 connecta ag was sold (see Note 25 on business combinations, disposals and liquidations). At 31 December 2015 connect ag and associated fully-consolidated assets and liabilities were classified as held for sale. connecta ag operates communications networks in Canton Graubünden, and was included in the Market Switzerland segment. On 31 December 2015 its net assets came to TCHF 3,278.

Properties held for sale

The administrative building in Ilanz was sold in the 2016 financial year. The pre-tax gain of TCHF 6,046 on the disposal is recognised under other segments and activities. At 31 December 2015 the administrative building in Ilanz was classified as held for sale and was recognised under other segments and activities. At 31 December 2015 its carrying value was TCHF 3,905.