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NOTE 4. ACQUISITIONS OF SUBSIDIARIES AND JOINT VENTURES
Aspria Maschsee and Aspria Uhlenhorst
On 06.06.2015, the Cofinimmo Group purchased 94.9% of the shares of
Aspria Maschsee and Aspria Uhlenhorst. These two companies group
together two sport and well-being centres in Germany, in Hamburg
and Hanover.
Since this date, Cofinimmo has exclusive control over the two compa-
nies and incorporates them into its accounts according to the full
consolidation method.
Terra 13
On 05.11.2015, Cofinimmo acquired, through its subsidiary Rheastone,
SPRL/BVBA Terra 13, the owner of the extension of an existing nursing
home and already belonging to Rheastone. The net purchase price
was -80 K EUR, which corresponds to a paid price of 156 K EUR for
236 K EUR in cash in the accounts.
This company was merged into Rheastone on 22.01.2016. This acquisi-
tion is considered immaterial for the group.
General information
Company
Aspria Maschsee
Aspria Uhlenhorst
Segment
Healthcare real estate - Germany Healthcare real estate - Germany
Country
Netherlands
Netherlands
% held by the Cofinimmo group at 31.12.2015 - full consolidation
94.9%
94.9%
% held by Aspria Estates BV at 31.12.2015
5.1%
% held by Aspria Properties BV at 31.12.2015
5.1%
Net amount paid during acquisition (x 1,000EUR)
Price paid by Cofinimmo for the buyback of shares
10,262
4,408
Cash from the acquisition balance sheet
528
199
Net cash outflow
9,734
4,209
Assets and liabilities taken over during the acquisition (x 1,000EUR)
Non-current assets
28,124
25,446
Current assets
1,216
222
Non-current liabilities
18,518
20,983
Current liabilities
322
234
These acquisitions were not considered business combinations, as defined within the cope of IFRS 3, because they do not concern acquisitions of
“business” as such, defined as an integrated combination of activities and assets.
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