1 Changes in the scope of consolidation

During 2014 and 2013, there were no business combinations that were either individually material or that were considered material on an aggregated basis.

On March 28, 2013, Holcim disposed of a 25 percent equity interest in Cement Australia to HeidelbergCement, and retained a 50 percent equity interest in that company. This resulted in a net gain on disposal of CHF 136 million (AUD 151 million) included in “Other income”. This transaction resulted in Holcim losing control of Cement Australia and obtaining joint control over that entity. According to IFRS 11 Joint Arrangements, it has been classified as a joint operation.

An overview of the subsidiaries, joint ventures and associated companies is included in the section “Principal companies of the Holcim Group”.