The Group has a related party relationship with its subsidiaries, associates and joint ventures (see note 40).
At 31 December 2008 the Group held $88 million (2007: $131 million) of 10% non-cumulative redeemable preference shares in DB Investments, the holding company of De Beers Société Anonyme. The Group has also made loans to De Beers during the year totalling $118 million. The loans are interest free for two years, at which point they revert to a market rate of interest, and are convertible into ordinary shares. These loans are included within Financial asset investments.
In addition to the Group's normal funding requirements, the shareholders of De Beers have agreed to provide loans to De Beers, proportionate to their shareholdings, totalling $500 million. Anglo American holds a 45% interest in De Beers and will therefore provide a loan of $225 million.
The Company and its subsidiaries, in the ordinary course of business, enter into various sales, purchase and service transactions with joint ventures and associates and others in which the Group has a material interest. These transactions are under terms that are no less favourable than those arranged with third parties. These transactions are not considered to be significant.
Dividends received from associates during the year totalled $609 million (2007: $275 million), excluding nil (2007: $52 million) from discontinued operations, as disclosed in the Consolidated cash flow statement.
At 31 December 2008 the directors of the Company and their immediate relatives controlled 3% (2007: 3%) of the voting shares of the Company.
Remuneration and benefits received by directors are disclosed in the directors' remuneration report. Remuneration and benefits of key management personnel including directors are given in note 6.
Information relating to pension fund arrangements is disclosed in note 27.