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Last Update:
Mar. 10, 2011
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Part of the audited Consolidated Financial Statements and Management´s Analysis

29 – Related party transactions

IAS 24 “Related Party Disclosures” requires the disclosure of transactions with related parties.

A related party is a person or entity where the BASF Group can exercise influence, has control or alternatively it is a related party that can exercise significant influence over the BASF Group. In particular, this relates to non-consolidated subsidiaries, joint ventures as well as affiliated and associated companies.

The following table shows the volume of business with related parties that are consolidated at amortized cost, using the equity method or proportionally consolidated.

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2010

 

2009

Million €

Sales

Accounts receivable, trade

Accounts payable, trade

 

Sales

Accounts receivable, trade

Accounts payable, trade

Non-consolidated subsidiaries

1,056

266

48

 

860

213

45

Joint ventures

536

82

145

 

334

67

172

Associated and affiliated companies

1,391

189

17

 

1,332

103

30

Sales from joint ventures related primarily to sales with Ellba C.V., Rotterdam, the Netherlands; Ellba Eastern Private Ltd., Singapore; Polioles S.A. de C.V., Lerma, Estado de Mexico, Mexico; BASF-YPC Company Ltd., Nanjing, China; Wintershall Erdgas Handelshaus Zug AG, Zug, Switzerland; and Wintershall Erdgas Handelshaus GmbH & Co. KG, Berlin, Germany. The unconsolidated portion of the sales with these companies amounted to €391 million in 2010, and €253 million in 2009.

Sales with associated and affiliated companies resulted primarily from the business with Erdgas Münster GmbH, Münster, Germany, and VNG – Verbundnetz Gas Aktiengesellschaft, Leipzig, Germany. The unconsolidated portion of the sales with these companies amounted to €1,291 million in 2010, and €1,272 million in 2009.

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

BASF has not issued loans to members of the Board of Executive Directors or the Supervisory Board and their related parties.
For more information on subsidiaries, joint ventures, associated and affiliated companies, see
Note 31

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

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