7. Investments in subsidiaries

Investments in subsidiaries

City

Activity

 

Share capital as of 31.12.2020 in 1000

Holding as of 31.12.2020 in %

Share capital as of 31.12.2019 in 1000

Holding as of 31.12.2019 in %

MCH Swiss Exhibition (Basel) Ltd.

Basel

Exhibitions and congresses

A

CHF

40 000

100.0

CHF

40 000

100.0

MCH Swiss Exhibition (Zurich) Ltd.

Zurich

Exhibitions and congresses

A

CHF

13 720

100.0

CHF

13 720

100.0

MCH Beaulieu Lausanne SA

Lausanne

Exhibitions

A

CHF

100

100.0

CHF

100

100.0

MCH Live Marketing Solutions AG

Effretikon

Stand construction

A

CHF

300

100.0

CHF

300

100.0

Art, Kunstmesse AG, in Basel

Basel

Trademark company

B

CHF

50

100.0

CHF

50

100.0

Swisstech Fachmesse AG

Basel

Trademark company

B

CHF

50

100.0

CHF

50

100.0

Natura, Internationale Fachmesse und Kongresse AG

Basel

Trademark company

B

CHF

50

100.0

CHF

50

100.0

Ineltec Fachmesse AG

Basel

Trademark company

B

CHF

50

100.0

CHF

50

100.0

Swissdata, Fachmesse für Datenverarbeitung AG

Basel

Trademark company

B

CHF

50

100.0

CHF

50

100.0

Orbit Fachmessen AG

Basel

Trademark company

B

CHF

100

100.0

CHF

100

100.0

Esthetica SA

Lausanne

Trademark company

E

CHF

100

100.0

CHF

100

100.0

Exhibit & More AG 10)

Zürich

Exhibitions

B

CHF

0

0.0

CHF

50

100.0

Design Miami Basel AG 1)

Basel

Exhibitions

B

CHF

500

50.0

CHF

500

50.0

Art Basel U.S. Corp.

Miami

Exhibitions

B

USD

100

100.0

USD

100

100.0

MCH Group Asia Ltd. 5)

Hong Kong

Exhibitions

B

HKD

1

100.0

HKD

1

100.0

Seventh Plane Networks Pvt. Ltd. 5)

New Delhi

Exhibitions

B

INR

0

0.0

INR

0

0.0

Expomobilia MCH Global Shanghai Ltd.

Shanghai

Stand construction

D

RMB

1 360

100.0

RMB

1 360

100.0

MCH US Corp.

Delaware

Live Marketing Solutions

A

USD

30 000

100.0

USD

30 000

100.0

Creative Management Services, Inc. 8)

Missouri

Live Marketing Solutions

F

USD

0

100.0

USD

0

98.0

Creative Management Services, LLC

Delaware

Live Marketing Solutions

G

USD

45

100.0

USD

45

98.0

Creative Management Services II, LLC

Missouri

Live Marketing Solutions

H

USD

0

100.0

USD

0

98.0

Creative Management Holding GmbH

Hilden

Live Marketing Solutions

H

EUR

25

100.0

EUR

25

98.0

MC2 Europe GmbH 2)

Hilden

Live Marketing Solutions

I

EUR

200

50.0

EUR

200

49.0

Masterpiece London Ltd.

London

Exhibitions

B

GPB

19

67.5

GPB

19

67.5

Expomobilia MCH Global Middle East (Dubai) LLC 7)

Dubai

Live Marketing Solutions

D

UAE

300

49.0

UAE

300

49.0

Masterpiece Asia Ltd. 6)

Hong Kong

Exhibitions

J

HKD

0

67.5

HKD

0

67.5

 

 

 

 

 

 

 

 

Investments in associated companies

City

Activity

 

Share capital as of 31.12.2020 in 1000

Holding as of 31.12.2020 in %

Share capital as of 31.12.2019 in 1000

Holding as of 31.12.2019 in %

Parkhaus Messe Zürich AG

Zurich

Car parking services

C

CHF

5 000

20.0

CHF

5 000

20.0

metron Vilshofen GmbH 4)

Vilshofen

Stand construction

A

EUR

0

0.0

EUR

140

20.0

art.fair International GmbH 3)

Cologne

Exhibitions

B

EUR

0

0.0

EUR

0

0.0

 

 

 

 

 

 

 

 

Minority investments

City

Activity

 

Share capital as of 31.12.2020 in 1000

Holding as of 31.12.2020 in %

Share capital as of 31.12.2019 in 1000

Holding as of 31.12.2019 in %

Design Miami II LLC 9)

Miami

Exhibitions

B

USD

0

0.0

USD

430

10.0

Design Commerce Technologies, Inc. 9)

Delaware

Exhibitions

B

USD

3

4.4

USD

0

0.0

1) The company Design Miami Basel AG is controlled by MCH Swiss Exhibition (Basel) Ltd.

2) The company MC 2  Europe GmbH is controlled by Creative Management Holding GmbH on the basis of a contractual agreement.

3) The holding in art.fair International GmbH was 2018 reclassified to current assets (assets held for sale) and sold in 2019.

4) In 2019, the holding in Metron Vilshofen GmbH was reclassified under current assets (assets held for sale) and valued at a net market value of CHF 1. It was sold on the 26.03.2020.

5) The holding in Seventh Plane Networks Pvt. Ltd. was sold on 02.09.2019.

6) The holding was founded on 02.04.2019.

7) The company Expomobilia MCH Global Middle East (Dubai) LLC is controlled by MCH Live Marketing Solutions Ltd.

8) On the 26.06.2020 the 2% held by the local management were repurchased.

9) The shares of Design Miami II LLC were transferred into the Design Commerce Technologies, Inc. on 21.12.2020 for shares of Design Commerce Technologies, Inc.

10) This company was merged in to MCH Swiss Exhibition (Basel) Ltd. on 01.01.2020.

A Company directly held by MCH Group Ltd.

B Company held by MCH Swiss Exhibition (Basel) Ltd.

C Company held by MCH Swiss Exhibition (Zurich) Ltd.

D Company held by MCH Live Marketing Solutions AG.

E Company held by MCH Beaulieu Lausanne SA.

F Company held by MCH US Corp.

G Company held by Creative Management Services, Inc.

H Company held by Creative Management Services, LLC.

I Company held by Creative Management Holding GmbH. The companies under letters F to I belong to the MC 2  subgroup.

J Company held by Masterpiece London Ltd.

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Change in consolidation scope

Seventh Plane Networks Pvt. was sold on 02.09.2019. All assets and liabilities were transferred to the new owners on this date and were therefore no longer included in the consolidated balance sheet for 2019. The result of Seventh Plane Networks Pvt. Ltd., by contrast, was included in the consolidated annual accounts for 2019 up to the transaction date with an annual operating turnover of CHF 2.0 million. At the time of the sale, the balance sheet total was CHF 0.3 million and the shareholders’ equity CHF -0.5 million. The sale of Seventh Plane Networks Pvt. Ltd. generated an overall profit of CHF 0.1 million. This comprises CHF 0.9 million amortisation of goodwill (“recycled” via the income statement, since it was offset directly against equity at the time of acquisition) and CHF 1.0 million profit from the sale of the shares.

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art.fair International GmbH, Cologne, was sold on 29.05.2019. This resulted in a loss of CHF 0.2 million.

Mehr Weniger

On 30.04.2017, MCH US Corp. acquired 100 % of the shares in MC2, New York (USA) and, at the same time, took over control of the company. In a further step, 2 % of the shares were sold to the local management. MCH Group Ltd. had a repurchasing right permitting it to buy back, indirectly via MCH US Corp., as of 30.04.2020, the shares in Creative Management Services LLC held by the management. MCH Group Ltd. could similarly be obliged by any member of the management to buy back their individual share in Creative Management Services LLC indirectly via MCH US Corp. The management made use of this right and sold the 2 % to MCH US Corp. on 26.06.2020 for CHF 1.1 million. CHF 0.8 million was offset directly against retained earnings.

Mehr Weniger

With the purchase and assignment agreement of 03.07.2015, MCH Group Ltd. acquired 20 % of the share capital of metron Vilshofen GmbH, Vilshofen (Germany) as per 01.01.2015. With regard to the remaining 80 % of the capital shares, the parties had agreed in the purchase and assignment agreement that the sale, which similarly took place on 03.07.2015, would be completed with effect on 01.01.2019. The purchase and assignment agreement of 03.07.2015 gave both parties the right of withdrawal by the end of 31.12.2018, with this right to be exercised by 30.09.2018. With the amendment agreement of 08.08.2018, the parties amended the contents of the purchase and assignment agreement of 03.07.2015. MCH Group Ltd. was granted certain purchase rights with regard to the remaining 80 % capital share and subjected to certain co-selling obligations with regard to its capital share of 20 %. The right of withdrawal was extended until the end of 31.12.2021, to be exercised by 30.09.2021, and the content was modified. The holding in metron Vilshofen GmbH was sold to the owners on 26.03.2020 without profit or loss.

Mehr Weniger

MCH Swiss Exhibition (Basel) Ltd. acquired 67.5 % of the shares in Masterpiece London Ltd. on 30.11.2017 and, at the same time, took over control of the company. The minority shareholders of Masterpiece London Ltd. are entitled to sell their shares to MCH Swiss Exhibition (Basel) Ltd. following registration of the 2020 audited annual accounts. In return, MCH Swiss Exhibition (Basel) Ltd. is entitled to acquire the remaining shares in Masterpiece London Ltd. following registration of the 2023 audited annual accounts. Both options can be exercised up to 40 days following registration of the 2032 audited annual accounts. Since this is an equity transaction, the call/put agreement is not recognised in the balance sheet until the call or put option is exercised.

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