30. Business combinations

Year ended 31 December 2012

On 11.12.2012, the Group acquired 100% of the shares of KTIMET S.A. for €100 thousand. The newly acquired company was included in the Group's financial statements with the full consolidation method.

The assets and liabilities of the above mentioned company, as they were recorded at the date of acquisition, are as follows:

(all amounts in Euro thousands) Fair value recognised on acquisition Previous carrying value
Non current assets 42 42
Receivables and prepayments 60 60
Total assets 102 102
Other liabilities and taxes payable 110 110
Total liabilities 110 110
Total net assets acquired -8 -8
Difference between cost of acquisition and preliminary identifiable net assets acquired 108
Purchase consideration, settled in cash 100
Cash flow on acquisition:
Purchase consideration settled in cash 100
Net cash outflow on acquisitions 100

Purchase price allocation of the acquired company was completed within the fiscal year 2012 without any change.