Annual report 2012 - Comrod

Annual report 2012 70/92Strategies and values | Group | Parent company | Corporate governance | ContactFinancial statement Notes Auditors reportCont. Note 2 - Investments in subsidiaresThe provisional fair value of the identifiable assets and liabilities of WIBE TM AB as at the date of acquisition was:ASSETSFair value recognizedon acquisitionUnaudited (NOK 1000)Property, plant and equipment 1 312Intangible assets 2 956Deferred tax asset 423Trade receivables 1 001Inventories 14 278Other current assets 31120 281LIABILITIESBank overdraft -6 652Trade payables -1 155Other current liabilities -1 518-9 325Total identifiable net assets at fair value 10 956Non-controlling interest measured at fair value -1 716Goodwill arising on acquisition 1 373Purchase consideration transferred 10 613Bank overdraft acquired with the subsidiary -6 652Contingent liability -849Cash paid - 9 764Net cash outflow 17 266From the date of the acquisition, WIBE TM has contributed MNOK 8.3 of revenue and with a negative effect of MNOK 2.0 to net profitbefore tax.The transaction costs of NOK 1 276 590 have been expensed and are included in other operating expenses in the income statement.70