Tesco 2007 Annual Report Download - page 94
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Notes to the financial statements continued
Note 26 Business combinations continued
Leader Price
On 30 November 2006, the Group acquired 100% of the share capital of Leader Price Polska Sp. z.o.o, which operates a chain of
146 stores in Poland.
The fair value of the identifiable assets and liabilities of Leader Price Polska Sp. z.o.o as at the date of acquisition were:
Pre-acquisition Recognised
carrying Fair value values on
amounts adjustments acquisition
£m £m £m
Property, plant and equipment 81 (14) 67
Intangible assets 1 (1) –
Deferred tax asset –88
Inventories 10 (2) 8
Trade and other receivables 14 (1) 13
Cash and cash equivalents 4–4
Trade and other payables (83) (7) (90)
Provisions – (4) (4)
Net assets acquired 27 (21) 6
Goodwill arising on acquisition 4
10
Consideration:
Cash consideration 7
Costs associated with the acquisition 3
Total consideration 10
From the date of acquisition, the acquired business has contributed £31m to revenue and £4m of operating losses to the Group.
92 Tesco PLC Annual report and financial statements 2007 Find out more at www.tesco.com/corporate