Page 254 - Sigmaroc Annual-Report 2023

SIGMAROC ANNUAL REPORT 2023 FINANCIAL REPORT
Notes to the financial statements
Clogrennane Lime Limited
On 4 January 2024, the Group acquired 100 per cent. of the share capital of Clogrennane Lime Limited (‘Clogrennane’) for a cash consideration of €58.2 million. Clogrennane is registered and incorporated in Ireland. Clogrennane is a lime producer with the key operations of extracting limestone from quarries as well further processing the limestone.
The following table summarises the consideration paid for Clogrennane and the values of the assets and equity assumed at the acquisition date.
Cash
Cash and cash equivalents Trade and other receivables Inventories
Property, plant & equipment Trade and other payables Income tax payable Deferred tax liability Borrowings
Total identifiable net assets Provisional goodwill
Total consideration
On 4 March 2024, the Company issued notice of exercise of the call option, entered on 22 November 2023, to acquire the UK lime operations of CRH plc for a total consideration of €155 million. Completion is expected by the end of March 2024.
Total consideration
£’000
50,517
50,517
Recognised amounts of assets and liabilities acquired
£’000
8,523
3,671
2,609
9,327
(4,265)
(1,215)
(986)
(1)
17,663
32,854
50,517