(4) Investments in other affiliated companies

This item contains interests in other affiliated companies totaling €13 million (2012: €18 million). The decrease resulted mainly from a valuation adjustment for the interest held in BioAmber Inc., Minneapolis, United States, due to the development of this company’s share price. Further, OOO LANXESS Lipetsk, Lipetsk, Russia, was fully consolidated as a subsidiary for the first time and is therefore no longer recognized under this item.

As of December 31, 2013, all the other investments classified as available-for-sale financial assets – apart from the shares in Gevo Inc., Englewood, United States, and BioAmber Inc. – comprised unlisted equity instruments. Since the fair values of these instruments at the closing date could not be reliably determined, they were recognized at cost. There are currently no plans to dispose of these investments.