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Note 19 Non-controlling interests
Accounting principles
Non-controlling interests are presented within the equity of the group in the Consolidated Statement of Financial Position . The proportionate shares of profit or loss attributable to non-controlling interests and to equity holders of the parent company are presented in the Consolidated Income Statement after the profit for the period. Transactions between non-controlling interests and group shareholders are transactions within equity and are thus shown in the Statement of changes in equity . The measurement type of non-controlling interests is decided separately for each acquisition.
Non-controlling interests
Year Ended 31 December
EUR million 2016 2015
At 1 January 125 167
Acquisitions - -46
Disposals -4 -
Loss on NCI buy-out - 16
Equity injections - 7
Share of profit for the period -56 -24
Share of other comprehensive income -3 7
Dividends - -2
At 31 December 62 125
Principal non-controlling interests
As at 31 December
2016 2016 2015
Company Principal Place of Business Proportion of Ownership Interests Held by Non-controlling Interests, % EUR million
Stora Enso Pulp and Paper Asia AB Group1 Sweden and China See separate table below 54 114
Stora Enso Inpac Packaging Group China and India 10.00 7 11
Stora Enso Arapoti Industria de Papel SA Brazil Disposed in 2016 - 5
Stora Enso Huatai Paper Co Ltd China 40.00 -7 -9
Others - 8 4
62 125
1 Consist of non-controlling interests in Guangxi Integrated Project and Operations
Non-controlling interests in Stora Enso Pulp and Paper Asia AB Group
As at 31 December 2016 As at 31 December 2015
Company Principal Place of Business Direct-% of NCI Indirect-% of NCI Total-% of NCI Direct-% of NCI Indirect-% of NCI Total-% of NCI
Stora Enso Pulp and Paper Asia AB Sweden and China 5.79 - 5.79 5.79 - 5.79
Guangxi Stora Enso Forestry Co Ltd China 5.00 5.50 10.50 5.00 5.50 10.50
Stora Enso (Guangxi) Packaging Company Ltd China 15.00 4.92 19.92 15.00 4.92 19.92
Stora Enso (Guangxi) Forestry Company Ltd China 15.00 4.92 19.92 15.00 4.92 19.92
On 31 March 2016, Stora Enso completed the divestment of its 80% shareholding in the Arapoti magazine paper mill in Paraná, Brazil, to Papeles Bio Bio, a Chilean paper producer. The final consideration for the shares was EUR 15 million. The transaction reduced the share of non-controlling interests in the group by EUR 4 million.

In 2015, Inpac Group, the non-controlling interest holder of Stora Enso Inpac Packaging Co. Ltd, used its option to sell a 39% share in Stora Enso Inpac Packaging Co. Ltd to Stora Enso for EUR 46 million (CNY 329 million). The transaction with the non-controlling interest holder resulted in a loss of EUR 16 million, which was recorded as a reduction of shareholders’ equity. After the transaction Stora Enso owns 90% of the shares in Stora Enso Inpac Packaging Co. Ltd.

In 2015, Stora Enso acquired the 26% direct non-controlling interest in Inpac India for a price of 1 euro.

Summarised financial information in respect of the subsidiaries that have material non-controlling interests is set out below.
Stora Enso Pulp and Paper Asia AB Group
EUR million 2016 2015
Non-current assets 1 007 1 020
Current assets 180 269
Shareholders' equity attributable to the owners of the parent 202 510
Non-controlling interests1 54 114
Total Equity 256 624
Non-current liabilities 553 461
Current liabilities 378 204
Sales 114 68
Net loss for the year -347 -87
Attributable to:
Owners of the parent -291 -70
Non-controlling interests -56 -17
Net Loss for the Year -347 -87
Other comprehensive income -21 46
Total Comprehensive Income Attributable to:
Owners of the parent -308 -33
Non-controlling interests -60 -8
Total Comprehensive Income -368 -41
Net cash outflow from operating activities -110 -12
Net cash outflow from investing activities -324 -373
Net cash inflow from financing activities 279 291
Net Cash Outflow/Inflow -155 -94
1 No dividends were paid to non-controlling interests in 2016 or 2015.

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