Note 30 – Related-party transactions

Group

During the year, the Group had transactions with joint venture company ArcelorMittal BE Group SSC AB. See Note 17 for further details.

In connection with the reverse share split, which involved every 20 existing share being consolidated into one new share, the company entered into an agreement with its main shareholder Traction. Under the agreement, Traction undertook, at no fee, to transfer the number of shares required for all shareholders´ holdings to be equally divisible by 20 (rounding up).

In 2015, the Group’s CEO and CFO acquired 60,000 and 30,000 put options respectively from Traction. The options were valued according to an established model and were acquired at market value. The options matures at the end of June 2017 and presents an opportunity to sell the equivalent number of shares at a price of 28.40 SEK per share. So far no options have been exercised. BE Group is in no way a party to the agreements.

In other regards, no transactions have taken place between BE Group and related parties that have had a material impact on the Company’s position and results.

See Note 3 for disclosures on remuneration and benefits paid to senior executives and Board members.

Parent Company

The Parent Company has decisive control over its subsidiaries (see note 16) and has had the following transactions with related parties:

Parent Company´s transactions with subsidiaries	2016	2015
Sales of services	25	34
Purchases of services	-7	-9
Interest income	21	23
Interest expense	-10	-11
Dividend Received (+)/paid (-)	14	24
Group contributions received(+)/paid (-)	9	12
Claims on related parties on balance day	291	322
Debt to related parties on balance day	-194	-133