ESR Group Limited Annual Report 2023 239 Notes to the Consolidated Financial Statements 31 December 2023 47. FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS (continued) Liabilities measured at fair value Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) Total US$’000 US$’000 US$’000 At 31 December 2023 Financial derivative liabilities — — — Redemption value of option — 112,864 112,864 — 112,864 112,864 At 31 December 2022 Financial derivative liabilities 78 — 78 Redemption value of option — 93,687 93,687 78 93,687 93,765 During the years ended 31 December 2023 and 2022, there were no transfers of fair values measurements into or out of Level 3 for financial liabilities. 48. EVENTS AFTER THE REPORTING DATES On 8 March 2024, the subsidiaries of the Company entered into the Share Purchase Agreements to dispose of their interests in the ARA Private Funds business in Australia, Singapore, South Korea and USA to entities which include an affiliate of Sumitomo Mitsui Finance and Leasing Co. for an Initial Consideration which is based on an agreed enterprise value of US$270 million for the businesses, subject to adjustments (the “Transaction”). The Transaction is structured as the disposal of the Group’s interests in certain indirect subsidiaries of the Company (the “Target Companies”). Upon completion, each of the Target Companies will cease to be a subsidiary of the Company. The Transaction is subject to certain regulatory approvals and other conditions. CORPORATE GOVERNANCE FINANCIAL STATEMENTS STRATEGIC REPORTS
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