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Notes to the Financial StatementsFOR THE FINANCIAL YEAR ENDED 31 DECEMBER 20096. SIGNIFICANT GROUP RESTRUCTURING, ACQUISITIONS AND DILUTION OF INTEREST(CONTINUED)(II) Acquisitions during the financial year (continued)(c) Acquisition of additional interest of 2.70% in PT XL Axiata Tbk (formerly known as PT Excelcomindo PratamaTbk) (“XL”) (continued)The Group through Indocel, had subscribed its full entitlement of 1,188,187,400 new ordinary shares under theXL Rights Issue for a total cash consideration of RM855.5 million (equivalent to IDR2,376.4 billion). Pursuantto a Standby Buyer Agreement entered into by Indocel with XL on 13 October 2009, Indocel had furthersubscribed to all the unsubscribed Rights Shares of 229,584,890 ordinary Shares, representing 2.70% of theenlarged issued and paid up capital of XL after the XL Rights Issue for a total cash consideration of RM165.3million (approximately IDR459.2 billion). The XL Rights Issue was completed on 11 December 2009 followingwhich, the Group’s effective equity interest in XL had increased from 83.79% to 86.49%.The details of the acquisition of 2.70% equity interest of XL are as follow:2009RM’000Purchase consideration 165,301Carrying value of net assets acquired (77,130)Goodwill 88,171The goodwill on acquisition arising from the above transaction was included in intangible assets.(d)On 1 December 2009, the Company had incorporated Axiata SPV1 (Labuan) Limited (“Axiata SPV1”), a limitedliability company, in the Federal Territory of Labuan, Malaysia under the Offshore Companies Act, 1990. Theauthorised share capital of Axiata SPV1 is USD13,000 divided into 13,000 ordinary shares of USD1 each ofwhich USD1 has been paid-up.(III) Acquisitions in the previous financial year(a) Acquisition of additional interest of 16.80% in XLOn 6 February 2008, the Group through Indocel, entered into a Share Purchase Agreement (“SPA”) withKhazanah Nasional Berhad (“Khazanah”) for the purchase of additional 1,191,553,500 ordinary shares ofIndonesian Rupiah 100 each in XL, representing approximately 16.80% of the issued and paid-up share capitalof XL for a purchase consideration of RM1,425.0 million to be satisfied through the issuance of 158,716,182new ordinary shares of RM1 each of the Company. The acquisition was completed on 25 April 2008.Consequently, the Group’s effective equity interest in XL increased from 66.99% to 83.79%, giving rise to anadditional goodwill of RM1,038.0 million. On the date of acquisition, the fair value of the purchase considerationwas RM1,245.8 million reflecting the market value of the shares issued by the Company as disclosed in Note39(a) to the financial statements.Axiata Group Berhad • 198