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SUN INTERNATIONAL ANNUAL REPORT ’10
178
NOTES TO THE GROUP FINANCIAL STATEMENTS CONTINUED
for the year ended 30 June
28. CASH FLOW INFORMATION (continued)
28.3 Purchase of shares in subsidiaries
Afrisun KZN (17) (5)
SunWest (13) –
RAH – (12)
SFIR – (4)
Other subsidiaries (4) (1)
28.4 Acquisition of SFIR
On 20 August 2008, the group acquired its effective 40% interest in SFIR. Details of the fair and
carrying values of assets and liabilities acquired and goodwill are as follows:
2010
Rm
2009
Rm
(34) (22)
Property, plant and equipment (note 14) (893)
Intangible assets (note 15) (15)
Loans and receivables (31)
Deferred tax asset (note 23) (28)
Accounts receivable (131)
Cash and cash equivalents (169)
Borrowings 518
Accounts payable and accruals 347
Tax 2
Net assets (400)
Minorities’ interests (60%) 240
Net assets acquired (160)
Goodwill recognised (198)
Consideration settled in cash (358)
Cash and cash equivalents in SFIR 169
Cash outflow (189)