Cloudberry Annual report 2021 Financial statements 154 Book value net aquired assets NOK 1 000 Captiva Deferred tax asset - Intangible assets 27 508 Property, plants and equipment 362 Goodwill 998 Other non-current assets 5 628 Financial non-current assets 5 678 Inventory - Other current assets 41 429 Cash and cash equivalents 159 665 Acquired assets 241 267 Interest bearing debt, long term 20 264 Current liabilities - Deferred tax liability 1 960 Other liabilities 178 754 Net asset value aquired assets 40 290 Total acquisition cost 101 037 Non cash consideration 50 519 Cash consideration 50 519 Cash in acquired company (159 665) Net cash outflow at acquisition (inflow) (109 146) Cloudberry has the option to acquire the remaining 40% of the Captiva Group until 30 June 2025 at a pre-determined price. Cloudberry and Captiva Capital Partners AS (seller) has entered into a shareholder agreement which govern their rights and obligations as owners of Captiva Digital Services AS. Chairman of the Board of Directors in Cloudberry; Frank J Berg, through CCPartner AS and related party Mothe Invest AS held a minority ownership (33%) of Captiva Capital Partner AS (the seller). Tinnkraft and Øvre Kvemma On 1 February 2022 Cloudberry Production acquired 100% of the shares in Tinnkraft AS, a producing hydro power plant, and entered a share purchase agreement for the acquisition of the hydro power project Øvre Kvemma. Tinnkraft is located in Tinn municipality, in the attractive NO 2 price area. The annual average power production is 6.3 GWh. The total purchase price was NOK 27.7m and was paid with cash settlement. The acquisition of the producing power plant will be accounted as a business combination and the purchase price allocation will be performed in first quarter 2022. Tinnkraft AS will be consolidated in the Group accounts from 1 February 2022. Øvre Kvemma, developed by NGK Utbygging AS (NGKU), is situated in Lærdal municipality, in the NO5 price area. The estimated, annual power production is 19.4 GWh. The transaction will be closed once the power plant is completed during H1 2024, and after a commissioning period. Munkhyttan On 3 February Cloudberry Develop acquired 100% of the shares in Munkhyttan Vindkraft AB. The company owns a late-stage development project, Munkhyttan, located in Lindesberg municipality, which is in SE2 price area of Sweden. Munkhyttan is a project with construction permit for 18 MW. Cloudberry has also secured an option to acquire additional 18MW project Munkhyttan II, on the same terms. This project is in concession process. The acquisition will be accounted as an asset acquisition.
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