Notes to Condensed Consolidated Financial Information 30 June 2024 105 ESR Group Limited Interim Report 2024 31. 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 30 June 2024 (unaudited) Redemption value of option 170,983 — 170,983 170,983 — 170,983 At 31 December 2023 (audited) Redemption value of option — 112,864 112,864 — 112,864 112,864 During the six months ended 30 June 2024, the redemption value of option was transferred out of Level 3 financial liabilities at fair value through profit or loss into Level 2 financial liabilities at fair value through profit or loss. Redemption value of option represents liabilities of the Group to acquire interest owned by the non-controlling shareholders of a subsidiary. Pursuant to the Company announcement on 21 and 26 July 2024, the Company has completed the acquisition of the interest owned by a non-controlling shareholder of the subsidiary on 20 June 2024; and entered into share purchase agreements with the remaining non-controlling shareholders on 25 July 2024. Accordingly, the carrying value of the financial liabilities as of 30 June 2024 represents consideration to be paid to the remaining non-controlling shareholders upon completion of the transaction, discounted to present value as of 30 June 2024.
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