Annual Report 2016
181
Financial Section
45 Notes to Consolidated Statement of Cash Flows
(continued)
(b) Acquisition of subsidiaries
2016
2015
HK$m
HK$m
Net assets acquired
Investment properties
–
6,130.3
Land use rights
–
24.7
Property, plant and equipment
39.0
36.8
Intangible assets, other than goodwill
–
0.7
Inventories
0.8
81.5
Debtors and prepayments
9.9
40.9
Cash and bank balances
1.3
31.2
Creditors and accrued charges
(18.4)
(170.4)
Current tax payable
(0.1)
(1.3)
Deferred tax liabilities
–
(7.0)
Borrowings
–
(397.0)
Non-controlling interests
(2.1)
(197.9)
Net assets
30.4
5,572.5
Interests originally held by the Group as a joint venture
(54.5)
(1,237.2)
Interests originally held by the Group as an associated company
15.0
–
(9.1)
4,335.3
Goodwill on acquisition
2.5
81.4
Loss/(gain) on remeasurement of previously held interest of a joint venture at
fair value upon further acquisition to become a subsidiary
40.5
(986.6)
Gain on remeasurement of previously held interest of an associated company
at fair value upon further acquisition to become a subsidiary
(18.2)
–
Translation differences
(0.2)
–
Consideration
15.5
3,430.1
(c) Analysis of net outflow of cash and cash equivalents in respect of acquisition of
subsidiaries
2016
2015
HK$m
HK$m
Cash consideration
(15.5)
(3,430.1)
Cash and cash equivalents acquired
1.3
31.2
(14.2)
(3,398.9)