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Last Update:
March 1, 2012
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30 – Related party transactions

IAS 24 requires the disclosure of transactions with related parties.

A related party is a person or entity where the BASF Group can exercise influence or significant influence, or which is controlled by the BASF Group. In particular, this relates to non-consolidated subsidiaries, jointly controlled entities, associated companies and other participations.

The following table shows the volume of business with related parties that are included in the financial statements at amortized cost or using the equity method or proportional consolidation.

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2011

 

2010

Million €

Sales

Accounts receivable, trade

Accounts payable, trade

 

Sales

Accounts receivable, trade

Accounts payable, trade

Non-consolidated subsidiaries

878

205

47

 

1,056

266

48

Jointly controlled entities

673

84

170

 

536

82

145

Associated companies and other participations

1,994

467

64

 

1,391

189

17

Sales from jointly controlled entities related primarily to sales with Ellba C.V., Rotterdam, the Netherlands; Ellba Eastern Private Ltd., Singapore; Heesung Catalysts Corporation, Seoul, South Korea; and Wintershall Erdgas Handelshaus GmbH & Co. KG, Berlin, Germany. The unconsolidated portion of the sales with these companies amounted to €422 million in 2011, and €304 million in 2010.

Sales with associated companies and other participations resulted primarily from business with Erdgas Münster GmbH, Münster, Germany; VNG – Verbundnetz Gas Aktiengesellschaft, Leipzig, Germany; Styrolution GmbH, Ludwigshafen, Germany; Styrolution Belgium N.V., Antwerp, Belgium; and Styrolution South East Asia Pte. Ltd., Singapore. The non-consolidated portion of the sales with these companies amounted to €1,774 million in 2011, and €1,291 million in 2010.

There were no reportable related party transactions with members of the Board of Executive Directors or the Supervisory Board and their related parties in 2011.

For more information on subsidiaries, jointly controlled entities, associated and affiliated companies, see the List of shares held of the BASF Group 2011

 

For more information on the Board of Executive Directors and the Supervisory Board, see
Management and Supervisory Boards and
Compensation report
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