4. Investments in subsidiaries
The company holds the following direct and indirect investments:
| 31 December 2020 | 31 December 2019 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Company | Currency |
Nominal share capital |
Voting rights and Participation |
Currency |
Nominal share capital |
Voting rights and Participation |
||||||
| MIL Madeiras Preciosas Ltda. 2 | BRL | 168 143 929 | 100.00% | BRL | 72 474 251 | 100.00% | ||||||
| Brazil (land and forest operations, 40% owner of BK Energia Itacoatiara Ltda.) | ||||||||||||
| Monte Verde Manejo Florestal Ltda. 1 | BRL | 37 585 742 | 100.00% | BRL | 36 121 294 | 100.00% | ||||||
| Brazil (land owner, former subsidiary of Precious Woods do Para) | ||||||||||||
| 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 Industrie 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)) | ||||||||||||
| Precious Woods Management Ltd. | USD | 20 000 | 100.00% | USD | 20 000 | 100.00% | ||||||
| British Virgin Islands (dormant company) | ||||||||||||
|
1 Capital increase from capital reserves, contributed by Carolina Industria Ltda. (CIL)
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2 Capital increase from a loan, contributed by Madeiras Preciosas de Amazonia Manejo Ltda. (PWAM)
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For further information on investments, we refer to note 31 to the consolidated group financial statements. * Precious Woods Tropical Gabon Industrie S.A. (TGI) holds a 49 % stake of the company Compagnie de Placages de la Lowé S.A. (CPL). For further information on investments associates, we refer to note 13 to the consolidated group financial statements.