19. Assets and liabilities held for sale

In accordance with the communicated strategy, the sales process of participation Qbuzz B.V. started on July 11, 2016 and on July 11, 2016 has stopped the depreciation of fixed assets. It is expected that the sale will be completed during 2017. The assets and liabilities held for sale at December 31, 2016 consist of:

(in millions of euros)	December 31, 2016
Property, plant and equipment	76
Intangible assets	13
Other financial assets, including investments	2
Deffered tax assets	1
Trade and other receivables	13
Cash and cash equivalents	35
Assets held for sale	140

Loans and borrowings, including derivatives	62
Provisions	2
Trade and other payables	34
Deferred income	17
Liabilities held for sale	115

The assets and liabilities held for sale are valued at book value, since the fair value less costs to sell is less than the book value.

The loans and other financial liabilities consist of finance lease liabilities the gross liability amounts to € 68 million and employed an average interest rate of 3.8%. An amount of € 68 million (2015: € 83 million) was pledged regarding (leased) assets.