Related parties in respect of the Merck Group are E. Merck KG as well as Emanuel-Merck-Vermögens-KG and E. Merck Beteiligungen KG. In principle, direct or indirect subsidiaries of Merck KGaA, associates and joint ventures of the Merck Group as well as pension funds that are classified as funded defined benefit plans in accordance with IAS 19 are also related parties within the meaning of IAS 24. Members of the Executive Board and the Supervisory Board of Merck KGaA, the Executive Board and the Board of Partners of E. Merck KG as well as close members of their families are also related parties.
As of December 31, 2013, there were liabilities by Merck Financial Services GmbH, Merck KGaA, and Merck & Cie, Altdorf, to E. Merck KG in the amount of € 734.7 million (2012: € 528.1 million) as well as by Merck Financial Services GmbH to Merck Capital Asset Management, Malta, and Merck Capital Asset Management Holding, Malta, amounting to € 0.2 million (2012: € 0.3 million) and € 0.1 million (2012: € 0.1 million), respectively. In addition, as of December 31, 2013, Merck KGaA had receivables from E. Merck Beteiligungen KG in the amount of € 32.5 million (2012: € 5.4 million). The balances result mainly from the profit transfers by Merck & Cie to E. Merck KG as well as the reciprocal profit transfers between Merck KGaA and E. Merck KG. They included financial payables of € 361.9 million (2012: € 233.1 million) which were subject to standard market interest rates.
From January to December 2013, Merck KGaA performed services for E. Merck KG with a value of € 1.2 million (2012: € 1.2 million), for Emanuel-Merck-Vermögens-KG with a value of € 0.4 million (2012: € 0.3 million) and for E. Merck Beteiligungen KG with a value of € 0.3 million (2012: € 0.3 million). During the same period, E. Merck KG performed services for Merck KGaA with a value of € 0.5 million (2012: € 0.5 million).
During the reporting period, Merck KGaA sold a piece of developed land to Emanuel-Merck-Vermögens-KG. The purchase price of € 4.3 million corresponded to the market value, which an independent expert third party determined in an appraisal.
Business transactions with major subsidiaries were eliminated during consolidation. Information on pension funds that are classified as funded defined benefit plans in accordance with IAS 19 can be found under Note [49]. There were no further material transactions with these pension funds.
From January to December 2013, there were no transactions between companies of the Merck Group and associates, as was the case in 2012. As in the previous year, companies of the Merck Group had no receivables or liabilities vis-à-vis associates as of December 31, 2013.
There were no material transactions such as, for example, the provision of services or the granting of loans, between companies of the Merck Group and members of the Executive Board and the Supervisory Board of Merck KGaA, the Executive Board and the Board of Partners of E. Merck KG or members of their immediate families.
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