33. Company acquisitions and disposals
Company disposals: sale of service division
On 1 April 2014, we sold our service division, comprising all service operations of BioFocus and Argenta in the UK and The Netherlands, to Charles River Laboratories International, Inc. In particular, we disposed of following companies which were previously fully consolidated: BioFocus DPI (Holdings) Ltd. and BioFocus DPI Ltd. (Saffron Walden, UK), Argenta Discovery 2009 Ltd. (Harlow, UK) and its subsidiary Cangenix Ltd. (Canterbury, UK). In addition, also certain assets from Galapagos BV (Leiden, The Netherlands) have been acquired by Charles River Laboratories International, Inc.
|
1 April |
(thousands of €) |
2014 |
Consideration received in cash and cash equivalents |
137,760 |
Correction on consideration still to settle |
(650) |
Total consideration |
137,110 |
|
1 April |
(thousands of €) |
2014 |
Cash |
6,115 |
Trade and other receivables |
18,165 |
Current assets |
24,280 |
|
|
Goodwill |
39,246 |
Fixed assets |
13,397 |
Deferred tax assets |
4,588 |
Non-current assets |
57,231 |
|
|
Trade payables |
(2,569) |
Other payables |
(5,263) |
Current liabilities |
(7,832) |
|
|
Provisions |
(604) |
Deferred tax liabilities |
(1,996) |
Other non-current liabilities |
(549) |
Non-current liabilities |
(3,149) |
|
|
Net assets disposed of |
70,531 |
|
1 April |
(thousands of €) |
2014 |
Total consideration |
137,110 |
Net assets disposed of |
(70,531) |
Effect from Cumulative Translation Adjustments reclassified from equity |
1,787 |
Costs associated to sale |
(858) |
Gain on disposal |
67,508 |
The gain on the sale is included in the income from discontinued operations for the year ended 31 December 2014.
|
1 April |
(thousands of €) |
2014 |
Consideration received in cash and cash equivalents |
137,760 |
Less: cash and cash equivalent balances disposed |
(6,115) |
Total consideration received |
131,645 |
Costs associated to sale |
(858) |
Cash in from disposal of subsidiaries, net of cash disposed |
130,787 |