XML 32 R12.htm IDEA: XBRL DOCUMENT
v3.20.2

Information about the main subsidiaries | 12 Months Ended
--- | ---
Jun. 30, 2020
Information About Main Subsidiaries [Abstract] |
Information about the main subsidiaries |
7. | Information about the main subsidiaries
The Group conducts its business through several operating subsidiaries and holdings. The Group considers that the subsidiaries below are the ones with non-controlling interests material to the Group.
|  | Direct interest of non- controlling interest % (1) |  |  | Current assets |  |  | Non-current assets |  |  | Current liabilities |  |  | Non-current liabilities |  |  | Net assets |  |  | Book value of non- controlling interests |
|  | As of June 30, 2020 |
Subsidiaries with direct participation of Cresud |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IRSA |  |  | 37.67 | % |  |  | 205,717 |  |  |  | 421,482 |  |  |  | 143,384 |  |  |  | 361,16 |  |  |  | 122,655 |  |  |  | 65,528 |
Subsidiaries with indirect participation of Cresud |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Brasilagro |  |  | 66.45 | % |  |  | 21,976 |  |  |  | 8,338 |  |  |  | 5,121 |  |  |  | 7,903 |  |  |  | 17,29 |  |  |  | 11,489 |
Elron |  |  | 38.94 | % |  |  | 3,377 |  |  |  | 3,966 |  |  |  | 509 |  |  |  | 142 |  |  |  | 6,692 |  |  |  | 4,149 |
PBC |  |  | 27.60 | % |  |  | 79,327 |  |  |  | 112,404 |  |  |  | 26,138 |  |  |  | 118,789 |  |  |  | 46,804 |  |  |  | 19,263 |
Cellcom (2) |  |  | 53.80 | % |  |  | 54,777 |  |  |  | 79,796 |  |  |  | 31,386 |  |  |  | 74,691 |  |  |  | 28,496 |  |  |  | 17,92 |
Mehadrin |  |  | 56.25 | % |  |  | 13,038 |  |  |  | 17,839 |  |  |  | 13,954 |  |  |  | 3,336 |  |  |  | 13,587 |  |  |  | 8,136 |
IRSA CP |  |  | 16.73 | % |  |  | 14,925 |  |  |  | 129,578 |  |  |  | 16,423 |  |  |  | 52,507 |  |  |  | 75,573 |  |  |  | 4,089 |
|  | As of June 30, 2019 |
Subsidiaries with direct participation of Cresud |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IRSA |  |  | 37.65 | % |  |  | 201,916 |  |  |  | 476,445 |  |  |  | 105,704 |  |  |  | 450,001 |  |  |  | 122,656 |  |  |  | 76,813 |
Brasilagro |  |  | 56.71 | % |  |  | 7,075 |  |  |  | 18,856 |  |  |  | 3,595 |  |  |  | 5,252 |  |  |  | 17,084 |  |  |  | - |
Subsidiaries with indirect participation of Cresud |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Elron |  |  | 38.94 | % |  |  | 4,521 |  |  |  | 3,77 |  |  |  | 529 |  |  |  | 69 |  |  |  | 7,693 |  |  |  | 4,624 |
PBC |  |  | 31.20 | % |  |  | 63,904 |  |  |  | 236,44 |  |  |  | 25,708 |  |  |  | 208,515 |  |  |  | 66,121 |  |  |  | 47,766 |
Cellcom (2) |  |  | 55.90 | % |  |  | 45,957 |  |  |  | 59,076 |  |  |  | 27,278 |  |  |  | 57,524 |  |  |  | 20,231 |  |  |  | 12,777 |
IRSA CP |  |  | 14.73 | % |  |  | 24,563 |  |  |  | 91,203 |  |  |  | 5,797 |  |  |  | 51,924 |  |  |  | 58,045 |  |  |  | 3,113 |
|  | Revenues |  |  | Net income / (loss) |  |  | Total comprehensive income / (loss) |  |  | Total comprehensive income / (loss) attributable to non- controlling interest |  |  | Cash of operating activities |  |  | Cash of investing activities |  |  | Cash of financial activities |  |  | Net Increase (decrease) in cash and cash equivalents |  |  | Dividends distribution to non- controlling shareholders |
|  | Year ended June 30, 2020 |
Subsidiaries with direct participation of Cresud |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IRSA |  |  | 95,793 |  |  |  | 23,731 |  |  |  | 14,182 |  |  |  | 9,482 |  |  |  | 31,113 |  |  |  | 40,644 |  |  |  | (76,125 | ) |  |  | (4,368 | ) |  |  | (2,283 | )
Subsidiaries with indirect participation of Cresud |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Brasilagro |  |  | 7,605 |  |  |  | 2,368 |  |  |  | (2,701 | ) |  |  | (1,795 | ) |  |  | 1,295 |  |  |  | (706 | ) |  |  | 9 |  |  |  | 598 |  |  |  | - |
Elron |  |  | - |  |  |  | (1,774 | ) |  |  | (1,864 | ) |  |  | 5,540 |  |  |  | (776 | ) |  |  | 350 |  |  |  | 874 |  |  |  | 448 |  |  |  | - |
PBC |  |  | 12,31 |  |  |  | 12,648 |  |  |  | 12,165 |  |  |  | 19,586 |  |  |  | 6,328 |  |  |  | 23,872 |  |  |  | (20,243 | ) |  |  | 9,957 |  |  |  | 1,684 |
Cellcom (2) |  |  | 56,076 |  |  |  | (2,068 | ) |  |  | (2,100 | ) |  |  | 534 |  |  |  | 14,914 |  |  |  | (7,425 | ) |  |  | (6,323 | ) |  |  | 1,166 |  |  |  | - |
Mehadrin |  |  | 1,952 |  |  |  | 106 |  |  |  | 123 |  |  |  | 251 |  |  |  | 246 |  |  |  | (70 | ) |  |  | (246 | ) |  |  | (70 | ) |  |  | 17 |
IRSA CP |  |  | 8,563 |  |  |  | 18,153 |  |  |  | 18,405 |  |  |  | 1,064 |  |  |  | 4,890 |  |  |  | (2,879 | ) |  |  | (3,561 | ) |  |  | (1,550 | ) |  |  | 663 |
|  | Year ended June 30, 2019 |
Subsidiaries with direct participation of Cresud |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IRSA |  |  | 99,713 |  |  |  | (38,371 | ) |  |  | (2,025 | ) |  |  | (2,848 | ) |  |  | 27,041 |  |  |  | 11,189 |  |  |  | (27,754 | ) |  |  | 10,476 |  |  |  | (3,330 | )
Brasilagro |  |  | 5,798 |  |  |  | 1,995 |  |  |  | (342 | ) |  |  | - |  |  |  | 849 |  |  |  | (356 | ) |  |  | (417 | ) |  |  | 76 |  |  |  | - |
Subsidiaries with indirect participation of Cresud |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Elron |  |  | - |  |  |  | (1,056 | ) |  |  | (909 | ) |  |  | 2,122 |  |  |  | (1,012 | ) |  |  | 207 |  |  |  | 1,338 |  |  |  | 533 |  |  |  | - |
PBC |  |  | 18,061 |  |  |  | 6,953 |  |  |  | 7,575 |  |  |  | 5,23 |  |  |  | 9,081 |  |  |  | 1,072 |  |  |  | 2,926 |  |  |  | 13,079 |  |  |  | 2,337 |
Cellcom (2) |  |  | 47,535 |  |  |  | (1,524 | ) |  |  | (1,538 | ) |  |  | (1,352 | ) |  |  | 10,025 |  |  |  | (8,614 | ) |  |  | 1,666 |  |  |  | 3,077 |  |  |  | - |
IRSA CP |  |  | 14,537 |  |  |  | (25,923 | ) |  |  | (25,923 | ) |  |  | (150 | ) |  |  | 5,588 |  |  |  | (4,958 | ) |  |  | (2,631 | ) |  |  | (2,001 | ) |  |  | 1,008 |
| (1) | Corresponds to the direct interest from the Group.
| (2) | DIC considers it exercises effective control over Cellcom because DIC is the group with the higher percentage of votes vis-à-vis other shareholders, also taking into account the historic voting performance in the Shareholders’ Meetings.
Restrictions, commitments and other relevant issues Analysis of the impact of the Concentration Law On December 2013, was published in the Official Gazette of Israel the Promotion of Competition and Reduction of Concentration Law N°, 5774-13 (‘the Concentration Law’) which has material implications for IDBD, DIC and its investors, including the disposal of the controlling interest in Clal. In accordance with the provisions of the law, the structures of companies that make public offer of their securities are restricted to two layers of public companies. In November 2017, Dolphin IL, a subsidiary of Dolphin Netherlands B.V. acquired all the shares owned by IDBD in DIC (See note 4). Thus, the section required by the aforementioned law for the year 2017 is completed. Prior to December 31, 2019 the Group lost control over Gav-Yam and in March 2020 it acquired control over Mehadrin, thus complying with the above-mentioned law. Dolphin arbitration process There is an arbitration process going on between Dolphin and ETH (previous shareholder of IDBD) in relation to certain issues connected to the control obtainment of IDBD (mainly regarding who had the right of purchase and the price of the acquisition). In the arbitration process the parties have agreed to designate Eyal Rosovshy and Giora Erdinas to promote a mediation. On August 17, 2017, a mediation hearing was held and the parties failed to reach an agreement. On January 31, 2018, the parties agreed to follow the process in court. As of the date of presentation of these Consolidated Financial Statements, there have been no other developments in the process and it is still pending resolution. Management, based on the opinion of its legal advisors, considers that the resolution of the present litigation will not have an adverse effect for Dolphin.

X
- References No definition available. + Details
Name: | cres_InformationAboutPrincipalSubsidiariesAbstract
Namespace Prefix: | cres_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of subsidiaries. [Refer: Subsidiaries [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2019-01-01 -Paragraph 17 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2019-en-r&anchor=para_17_b&doctype=Standard -URIDate 2019-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2019-01-01 -Paragraph 16 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2019-en-r&anchor=para_16_b&doctype=Standard -URIDate 2019-03-27 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2019-01-01 -Paragraph B4 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B4_a&doctype=Appendix&subtype=B -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration