Report & Accounts - JLT

30. Business combinations cont.The assets and liabilities arising from the acquisition were as follows:FairvalueAcquiree'scarryingamountIntangible asset 1 1Property, plant and equipment 26 26Trade and other receivables 119 119Cash and cash equivalents 132 132Trade and other payables (233) (233)Taxation 14 1459 59Purchase consideration settled in cash 540Cash and cash equivalents in subsidiary acquired (132)Cash outflow on acquisition 408On 22nd March 2005, the Group acquired the majority shareholding in BGHPW Limited ("BGHPW") which owned the outstanding nonGroup owned interests in Agnew Higgins Pickering & Company Limited ("AHP"). This followed the exercise of a put option on the Group bythe shareholders of BGHPW and management of AHP under an agreement dated 9th February 1998 establishing BGHPW and AHP.Details of the net assets acquired and goodwill are as follows: £’000Purchase consideration:- cash paid 495- share issued 38,130- accrued costs in respect of the share issue 193Total purchase consideration 38,818Fair value of net assets acquired 8,015Goodwill 30,803The fair value of the assets acquired represents the Group's carrying value of the Minority Interest in BGHPW immediately prior tocompletion of the acquisition.Group summary of the net assets acquired and goodwill: RSL BGHPW Other Total£'000 £'000 £'000 £'000Purchase consideration:- cash paid 540 495 2,324 3,359- shares issued - 38,130 - 38,130- accrued costs in respect of the share issue - 193 - 193- deferred consideration 1,312 - 333 1,645Total purchase consideration 1,852 38,818 2,657 43,327Fair value of net assets acquired 59 8,015 - 8,074Goodwill 1,793 30,803 2,657 35,253Impact of revisions to fair value adjustments and deferred consideration in relation to acquisitions completed in 2004 (2,919)Net increase in goodwill 32,334Financial Statements Jardine Lloyd Thompson Group plc Annual Report & Accounts 200591