Notes to Condensed Consolidated Financial Information 30 June 2024 87 ESR Group Limited Interim Report 2024 23. DISPOSAL OF SUBSIDIARIES (continued) Sunflower TMK In April 2024, the Group has, through its wholly-owned subsidiary, entered into a sale and purchase agreement to dispose of the 91.329% interests in a subsidiary, ESR Sunflower TMK, to a third party. Accordingly, the Group lost its control of ESR Sunflower TMK and accounted for its remaining 8.671% ownership in ESR Sunflower TMK as a financial asset at fair value through profit or loss. US$’000 Net assets disposed of: Investment properties 21,857 Cash and bank balances 14,566 Other assets 940 Bank and other borrowings (24,239) Other liabilities (72) 13,052 Gain on disposal of subsidiaries 54 13,106 Satisfied by: Cash 11,970 Financial assets at fair value through profit or loss 1,136 13,106 An analysis of the net cash and cash equivalents in respect of the disposal of a subsidiary is as follows: US$’000 Cash consideration 11,970 Cash and bank balances of a subsidiary disposed of (14,566) Net outflow of cash and cash equivalents included in cash flows related to investing activities (2,596)
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