070917_KPGHL_Annual Report 2017_final_PREVIEW
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Notes to the Financial Statements | For the Year Ended 30 June <strong>2017</strong><br />
28 Business Combinations<br />
Kelly Partners Southern Highlands<br />
On 1 July 2016, the Group obtained control of Gillespies Southern Highlands under the terms of an acquisition<br />
agreement.<br />
The goodwill is attributable to synergies expected to be achieved from integrating the business into the Group's existing<br />
business.<br />
The following table shows the recognised amounts of assets acquired and liabilities assumed at the acquisition date.<br />
Fair value<br />
$<br />
Assets or liabilities acquired:<br />
Intangible assets - customer<br />
relationships<br />
400,718<br />
Deferred tax liabilities (120,215)<br />
Total identifiable net assets<br />
acquired<br />
280,503<br />
Goodwill 711,487<br />
Acquisition date fair value of total<br />
consideration transferred<br />
Cash used to acquire business, net<br />
of cash acquired<br />
Acquisition date fair value of total<br />
consideration transferred<br />
991,990<br />
991,990<br />
Less: deferred consideration (231,418)<br />
Net cash used 760,572<br />
Notes to the Financial Statements<br />
$231,418 of the purchase price has been deferred and is payable in cash in July 2018.<br />
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