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TDB Mongolia - Annual report 2015 /english/

Page 77

TRADE AND DEVELOPMENT BANK OF MONGOLIA LLC AND ITS SUBSIDIARIES Notes to the Consolidated Financial Statements TRADE AND DEVELOPMENT BANK OF MONGOLIA LLC AND ITS SUBSIDIARIES 31 December 2015 and 2014 Consolidated Statements of Financial Position As at 31 December 2015 and 2014

4

Acquisition of Subsidiary

77

Business combination On 19 November 2013 the Group obtained control of TDB Media LLC (“TDBM”), a media company licensed by the Mongolia Telecommunication Regulatory Commission to operate Bloomberg TV Mongolia in Ulaanbaatar since 2011 by acquiring additional shares and voting interests in TDBM. As a result, the Group’s equity interest in TDBM increased from 49% to approximately 84.4%. Even though the Group took control of TDBM on 19 November 2013, the Group deemed the acquisition date as 31 December 2013 since there were no significant transactions between the acquisition date and the end of the reporting period. As a result, the Group did not include total comprehensive income of TDBM in the consolidated financial statements as at and for the year ended 31 December 2013. The following summarises the major classes of consideration transferred, and the recognised amounts of assets acquired and liabilities assumed at the acquisition date. 2013 MNT’000 5,240,000 6,060,000

Cash Buildings Total consideration transferred

11,300,000

The fair value of buildings was based on the market approach. Identifiable assets acquired and liabilities assumed The following table summarises the recognised assets acquired and liabilities assumed at the acquisition date. 2013 MNT’000 448,786 8,567,435 389,670 987,741 (321,068) 10,072,564

Cash and cash equivalents Property and equipment Intangible assets Other assets Other liabilities Total identifiable net assets acquired

28


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