NOTES TO THE BALANCE SHEET

14. Shares in associates
20152014
Opening balance22.7135.8
Translation differences0.1-1.9
Additions, business acquisitions0.81.0
Impairment losses--1.1
Disposals, business disposals-1.0-105.5
Other changes-0.10.0
Closing balance22.528.4
Share of associates' results1.711.2
Dividend from associates-0.9-16.9
Shares in associates on 31 Dec.23.322.7
Associated companies consolidated in the Group financial statements are listed in note 29. The Group has no single material associated companies. The Group conducts business through the associates. The activities include slaughtering, cutting, meat processing, and the use of leasing, waste disposal, research and advisory services.
There are no contingent liabilities relating to the Group’s interest in the associates.
The sale of shares in Saturn Nordic Holding AB, owner of 100 per cent of the shares in Sokołów S.A., was completed on 10 June 2014. The transaction generated operating income amounting to EUR 77.6 million in capital gain, cash flow of EUR 8.3 million as dividends and EUR 178.7 million as sales price after the transaction costs.