84 Notes to Condensed Consolidated Financial Information 30 June 2024 STRENGTH IN UNITY 22. DISPOSAL GROUP HELD FOR SALE (continued) ARA Private Funds business On 8 March 2024, the subsidiaries of the Company entered into certain Share Purchase Agreements to dispose interests in the ARA Private Funds business in Australia, Singapore, South Korea and U.S. to buyers which include an affiliate of Sumitomo Mitsui Finance and Leasing Co. for an initial consideration based on an agreed enterprise value of US$270 million for the businesses, subject to adjustments. Pursuant to the Share Purchase Agreements, all assets and liabilities of the ARA Private Funds business were reclassified as disposal group held for sale as at 30 June 2024. Details of assets and liabilities classified as held for sale as at 30 June 2024 are as follows: As at 30 June 2024 US$’000 Assets Investments in joint ventures and associates 6,536 Financial assets at fair value through other comprehensive income 121,593 Financial assets at fair value through profit or loss 8,203 Goodwill arising from acquisition 112,387 Management rights and trust management rights arising from acquisition 29,332 Cash and bank balances 50,791 Other assets 30,661 Assets of a disposal group classified as held for sale 359,503 Liabilities Deferred tax liabilities (6,981) Other liabilities (19,613) Liabilities directly associated with assets classified as held for sale (26,594) Net assets directly associated with the disposal group 332,909 Amounts included in accumulated OCI: Investment reserve (non-recycling) 35,702 Reserve of disposal group classified as held for sale 35,702
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