4. Investments in subsidiaries
The company holds the following direct and indirect investments:
| 31 December 2019 | 31 December 2018 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Company | Currency |
Nominal share capital |
Voting rights and Participation |
Currency |
Nominal share capital |
Voting rights and Participation |
||||||
| Precious Woods Management Ltd. | USD | 20 000 | 100.00% | USD | 20 000 | 100.00% | ||||||
| British Virgin Islands (dormant company) | ||||||||||||
| MIL Madeiras Preciosas Ltda. | BRL | 72 474 251 | 100.00% | BRL | 68 074 251 | 97.30% | ||||||
| Brazil (land and forest operations, 40% owner of BK Energia) | ||||||||||||
| Madeiras Preciosas de Amazonia Manejo Ltda. (merged into MIL Madeiras Preciousas Ltda.) | BRL | – | – | BRL | 4 400 000 | 99.98% | ||||||
| Brazil (dormant company) | ||||||||||||
| Monte Verde Manejo Florestal Ltda. 1 | BRL | 36 121 294 | 100.00% | BRL | – | – | ||||||
| Brazil (land owner, former subsidiary of Precious Woods do Para) | ||||||||||||
| Precious Woods do Pará S.A. (merged into Monte Verde Manejo Florestal Ltda.) 1 | BRL | – | – | BRL | 1 003 | 100.00% | ||||||
| Brazil (former sub-holding company) | ||||||||||||
| Precious Woods Manejo Florestal Ltda. | BRL | 24 429 917 | 100.00% | BRL | 24 429 917 | 100.00% | ||||||
| Brazil (dormant company) | ||||||||||||
| Precious Woods Europe B.V. | EUR | 18 000 | 100.00% | EUR | 18 000 | 100.00% | ||||||
| Netherlands (timber trade) | ||||||||||||
| Unio S.A. | EUR | 1 000 000 | 100.00% | EUR | 1 000 000 | 100.00% | ||||||
| Luxembourg (sub-holding for Precious Woods Tropical Gabon Insutries S.A. (TGI)) | ||||||||||||
| Lastour & Co. S.A. | EUR | 372 575 | 100.00% | EUR | 372 575 | 100.00% | ||||||
| Luxembourg (sub-holding for Precious Woods Compagnie Equatoriale des Bois S.A. (CEB)) | ||||||||||||
|
1 Merger of Brazilian entities: Precious Woods do Pará S.A., Carolina Industria Ltda. as well as Monte Verde Madeiras Ltda. were merged and form together the legal entity Monte Verde Manejo Florestal Ltda.
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For further information on investments, we refer to note 32 to the consolidated group financial statements.