2. significant changes in scope of consolidation

2. SIGNIFICANT CHANGES IN SCOPE OF CONSOLIDATION AND
LIST OF MAIN SUBSIDIARIES AND AFFILIATED ENTERPRISES
OF THE GROUP DEXIA
RAPPORT DE GESTION
Dexia and Royal Bank of Canada combine their institutional
investor services businesses in a joint venture equally owned
by both of them, named RBC Dexia Investor Services.
Dexia consolidate 50% of the joint venture by proportional
method as from January 1, 2006.
As of October 17, 2006 Dexia closed a share purchase
agreement with Zorlu Holding concerning the acquisition
of approximately 75% stake in DenizBank Financial Services
Group.
The shares were transferred from Zorlu Holding A.S. to Dexia
Participation Belgique SA — a 100% subsidiary of Dexia —
for an amount of USD 2,43 billion.
DenizBank is therefore fully consolidated in Dexia financial
statements since October 17, 2006. More details about the
transaction are presented in note 9.6. “Acquisitions and disposals of consolidated companies”.
As prescribed by Turkish law, Dexia Participation Belgique SA
launched a mandatory tender offer for the remaining ordinary
shares held by the minority shareholders (24.15%) listed on
the Istanbul Stock Exchange.
This offer launched on December 4 was closed on December
22, 2006 at a price per share in TRY equivalent to that offered
to Zorlu Holding.
As at December 31, 2006, the shareholding of Dexia in
DenizBank stood at 99.74%.
The companies Banksys and Bank Card Company which were
accounted for by the equity method were sold and Banque
Artesia Nederland NV left the scope of the Group following
the closing of the sale.
Dexia Banque Privée France has been transferred in noncurrent assets held for sale.
CONSOLIDATED
FINANCIAL STATEMENTS
2.1. SIGNIFICANT CHANGES IN SCOPE OF
CONSOLIDATION COMPARED WITH 2005
Name
Head Office
DIRECT PARTICIPATIONS OF DEXIA SA
Associated Dexia
69, route d’Esch
Technology Services SA (ADTS) L-2953 Luxembourg
Dexia Employee
Avenue Livingstone 6
Benefits SA
B-1000 Bruxelles
Dexia Funding
69, route d’Esch
Luxembourg SA
L-2953 Luxembourg
Dexia Habitat SA
7 à 11, quai André Citroën
F-75015 Paris
Dexia Management
Shackleton House,
Services Ltd
4 Battle Bridge Lane
UK-London SE1 2RB
Dexia Nederland Holding NV
Beethovenstraat 300
NL-Amsterdam
Dexia Participations
Boulevard Pacheco 44
Belgique SA
B-1000 Bruxelles
Dexia Participations
69, route d’Esch
Luxembourg SA
L-2953 Luxembourg
Group Denizbank A.S.
Büyükdere Cad. No: 106,
T-34394 Esentepe/Istanbul
Group Dexia Bank
Piet Heinkade 55, PB 808
Nederland NV
NL-1019 GM Amsterdam
% of
capital held
Consolidation
method
Activity
100
fully
IT
100
fully
financial engineering
100
fully
funding
100
fully
investment company
100
fully
other
100
fully
investment company
100
fully
investment company
100
fully
investment company
99.74
fully
credit institution
100
fully
credit institution
MAIN SUBSIDIARIES AND AFFILIATED ENTERPRISES OF THE SUBGROUP “DEXIA BANK BELGIUM SA”
Crédit du Nord SA
59, Boulevard Haussmann
10
equity
F-75008 Paris
method
Dexia Bank Belgium SA
Boulevard Pacheco 44
100
fully
B-1000 Bruxelles
Dexia Crédits Logement SA
Boulevard Pacheco 44
100
fully
B-1000 Bruxelles
COMPTES SOCIAUX
2.2. MAIN SUBSIDIARIES AND AFFILIATED ENTERPRISES OF THE GROUP DEXIA (1)
credit institution
credit institution
home loans
(1) Complete list available on request.
Dexia / Annual Report 2006
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