ESR Group Limited Interim Report 2023 Notes to Condensed Consolidated Financial Information 30 June 2023 81 21. BUSINESS COMBINATION In April 2023, the Group, through its wholly-owned subsidiary, completed the acquisition of 90.20% equity interests in ARA Europe REIT Manager Limited. The fair values of the identifiable assets and liabilities and goodwill on acquisition at the date of acquisition as disclosed in the table below have been measured on a provisional basis. Net assets acquired US$’000 Net assets acquired Property, plant and equipment 111 Cash and bank balances 2,792 Other assets 3,183 Other liabilities (7,003) Total identifiable net assets at fair value (917) Goodwill on acquisition 42,506 Non-controlling interests (4,462) 37,127 Satisfied by Cash 20,782 Consideration payable 16,345 37,127 An analysis of the cash flows in respect of the acquisition of a subsidiary are as follows: Cashflow on acquisition US$’000 Cash consideration (20,782) Cash and bank balances acquired 2,792 Net outflow of cash and cash equivalents included in cash flows related to investing activities (17,990)
RkJQdWJsaXNoZXIy MTIwODcxMw==