Nokia 2015 Annual Report Download - page 187
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185
Financial statements
NOKIA IN 2015
Purchase consideration
The purchase consideration comprises the fair value of Alcatel Lucent Equity Securities obtained through the initial and reopened exchange
oers, and the fair value of the portion of Alcatel Lucent stock options and performance shares attributable to pre-combination services that
willbe settled with Nokia shares. The fair value of the purchase consideration is based on the closing price of Nokia share of EUR 6.58 on Nasdaq
Helsinki on January 4, 2016, and the exchange oer ratio of 0.55 Nokia share for every Alcatel Lucent share.
Preliminary estimate of the fair value of the purchase consideration:
EURm
Alcatel Lucent shares or ADSs 10 046
OCEANE convertible bonds 1 570
Consideration attributable to the vested portion of replacement share-based payment awards 6
Preliminary purchase consideration 11 622
Purchase accounting
Following the public announcement of the results of the initial exchange oer on January 4, 2016 and the mandatory reopened exchange oer
on February 10, 2016, purchase accounting of the Alcatel Lucent acquisition was started, including the preparation of a purchase price allocation.
As of the date of authorization for issuance of these nancial statements, given the size and complexity of the acquired business and the
concurrent preparation of the required 2015 annual lings for Alcatel Lucent, the provisional purchase price allocation is incomplete. Accordingly,
the amounts which will be recognized for each major class of assets acquired and liabilities assumed, and the resulting non-controlling interest
and goodwill to be recognized, have not yet been estimated on a preliminary basis and are not presented.
Acquisition-related costs of EUR 32 million that were not directly attributable to the issue of shares are included in other expenses in the
consolidated income statement and in operating cash ows in the consolidated statement of cash ows for the year ended December 31, 2015.
Nokia Growth Partners raises USD 350 million investment fund for investments in Internet of Things
On February 21, 2016, Nokia Growth Partners announced the closing of a new USD 350 million fund for investments in Internet of Things (IoT)
companies. The fund is sponsored by Nokia and will serve to identify new opportunities to grow the ecosystem in IoT solutions. The fund IV
commitment brings NGP’s total assets under management to over USD 1 billion, including USD 500 million available for new investments.