Merck announced on December 20, 2010 the sale of the Crop BioScience business, which was part of the Performance Materials division, to Novozymes A/S, Denmark. The agreement is subject to customary regulatory approvals. The transaction is expected to close at the beginning of 2011. The Crop BioScience business generated sales of around EUR 46 million in 2010. For this item, EUR 36.7 million was disclosed in the consolidated balance sheet as of December 31, 2010 as assets held for sale and EUR 5.9 million as liabilities directly related to assets held for sale.
The following table presents this item in more detail:
| XLS |
EUR million |
Dec. 31, 2010 |
Current assets |
|
Cash and cash equivalents |
1.2 |
Inventories |
4.6 |
Receivables |
10.6 |
Other current assets |
0.6 |
|
17.0 |
Non-current assets |
|
Intangible assets |
13.4 |
Property, plant and equipment |
4.4 |
Other non-current assets |
1.9 |
|
19.7 |
Assets held for sale |
36.7 |
|
|
Current liabilities |
|
Trade accounts payable |
1.0 |
Other current liabilities |
4.7 |
|
5.7 |
Non-current liabilities |
0.2 |
|
|
Liabilities directly related to assets held for sale |
5.9 |