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Financial Information concerning the Group’s Assets and Liabilities, Financial Condition andResults
Group Consolidated Financial Statements
185
Worldline
2016 Registration Document
The impacts of the business combination in the equity of the Group are as follows:
(in € million)
controlling interests
Financial Services
transferred to non
takeover of Equens
transferred for the
Consideration
Total
Group share
-7.8
254.6
246.8
Non controlling interests
7.8
145.7
153.5
Total shareholder’s equity
-
400.3
400.3
2/ Paysquare
Terminal division (“MS&T”) since October
1, 2016.
consolidated in Worldline Group since October
1, 2016.
Paysquare is consolidated in the Group’s Merchant Services &
commercial acquiring subsidiary Paysquare for a cash
consideration paid of € 113.2
million. Paysquare is fully
As of September
30, 2016, Worldline acquired from Equens its
The fair value of Equens and Paysquare net assets acquired are set out in the table below:
(in € million)
the measurement period
Assets acquired and liability assumed at the end of
Fixed assets
202.3
Net debt
36.6
Provisions
-54.4
Other net assets
-36.6
Fair value of acquisition
147.8
PreliminaryGoodwill
The Group has opted to measure the non-controlling interests at fair value (full goodwill method).
(in € million)
Preliminary Goodwill
Consideration transferred for Equens
254.6
Consideration transferred for Paysquare
113.2
Total consideration
367.8
Fair value of Non Controlling Interests
145.7
Equity acquired (Equens & Paysquare)
84.1
Customer relationships acquired net of deferred tax
63.7
Fair value of identifiable net assets
147.8
Total
365.6
amortization expenses of € 2.5
million was recorded for the
three-month period ended December
31, 2016.
amortized on a straight line basis over 6.5 to 9.5 years. An
relationships for a total amount of € 88.8 million determined by
an independent expert. Customer relationships are being
The valuation of assets acquired and liabilities assumed at their
fair value has resulted in the recognition of new customer
time.
the acquisition date that would lead to adjustments to the above
amounts, then the acquisition accounting will be revised at that
If new information is obtained within one year from the
acquisition date about facts and circumstances that existed at
Paysquare operations into the Group.
highly skilled workforce and some know-how. It also reflects the
synergies expected to be achieved from integrating Equens and
The residual goodwill is attributable to Equens and Paysquare’
The goodwill arising from this acquisition is not tax deductible.
Acquisition-related costs
2016.
income and expenses” in the Group’s consolidated income
statement, of which € 7.2
million in 2015 and € 5.2
million in
The Group incurred € 12.4 million of legal fees and due diligence
costs. These costs have been recognized in “other operating
acquisitiondate had been January
1, 2016
Equens andPaysquare 2016 revenue andnet result as though the
If the acquisition had occured on January
2016, the
twelve-month Revenue for 2016 would have been €
semester 2016 for € 42.9 million).
319.8 million and the twelve-month net results would have been
€ 14.7
million (included Paysquare’s Visa proceeds in the first