36 Other financial obligations


  Download

 

 

 

 

 

 

 

 

 

 

 

 

 

Payable

 

Payable

 

Payable

 

Total

 

Total

€ million

 

2010

 

2011 – 2014

 

from 2015

 

Dec. 31, 2009

 

Dec. 31, 2008

Purchase commitments in respect of

 

 

 

 

 

 

 

 

 

 

property, plant and equipment

 

1,787

 

572

 

 

2,359

 

1,978

intangible assets

 

136

 

33

 

4

 

173

 

184

investment property

 

1

 

 

 

1

 

1

Obligations from

 

 

 

 

 

 

 

 

 

 

loan commitments to unconsolidated subsidiaries

 

105

 

 

 

105

 

99

irrevocable credit commitments to customers

 

1,725

 

 

 

1,725

 

1,758

long-term leasing and rental contracts

 

378

 

845

 

1,496

 

2,720

 

2,751

Other financial obligations

 

3,564

 

802

 

142

 

4,508

 

2,876

Other financial obligations from long-term leasing and rental contracts are partly offset by expected income from subleases of €705 million.

In the course of the acquisition of a 100% equity interest in LeasePlan Corporation N.V., Amsterdam, and the subsequent sale of 50% of the shares to two co-investors, Volkswagen AG reached an agreement with the co-investors on put options entitling these investors to sell their shares to Volkswagen AG. On December 22, 2008, the co-investors announced that they would exercise their put options. In September 2009, Volkswagen agreed to purchase the shares from the co-investors for €1.4 billion in fiscal year 2010. Volkswagen plans to simultaneously transfer the purchased shares to a new co-investor, although this required the approval of the supervisory authorities at the reporting date. Approval was granted on January 12, 2010.

The other financial obligations also include the order volumes agreed with the purchaser of the gedas Group.

On December 9, 2009, Volkswagen AG and Suzuki Motor Corporation, Tokyo, signed a master agreement to begin a long-term strategic partnership. The transaction was subject to the approval of the relevant authorities, which was granted on January 15, 2010. The purchase price of €1.7 billion is included in other financial obligations.

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