paid 1,184.9 Cash and cash equivalents assumed (3.0) Net cash outflow on acquisition 1,181.9 The goodwill from the acquisition is provisionally determined at RM332.4 million (AUD110.0 million) and is expected to be finalised by the third quarter of 2024, within 12 months in accordance with MFRS 3 Business Combination. The goodwill is deemed to be attributable to Spark Renewable’s ability to develop and operate new renewable energy projects in Australia, as well as enhanced scale and operational diversity in its renewable projects portfolio. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 339 48 SIGNIFICANT ACQUISITIONS DURING CURRENT AND PRECEDING FINANCIAL YEARS (CONTINUED) Acquisitions during the financial year (continued) Subsidiaries acquired by the Group during the financial year ended 31 December 2023 is as follows: (continued)(ii) Dullarbtons and Elipsgeen VRE3, a newly incorporated wholly owned subsidiary of TNBI, completed its acquisition of Dullarbtons and Elipsgeen for a purchase consideration of EUR97.5 million in cash. Refer to Note 49 for the principal activities of these companies. The Group’s profit after tax for the financial year ended 31 December 2023 would have been estimated at RM2,641.5 million if Dullarbtons and Elipsgeen have been consolidated from the beginning of the financial year. From the acquisiton date up to 31 December 2023, Dullarbtons and Elipsgeen contributed a loss after tax of RM4.3 million. The transaction costs incurred for this acquisition was RM8.0 million. Details of the assets, liabilities and net cash outflow as at the date of the acquisition of these subsidiaries by the Group during the financial year ended 31 December 2023 are as follows: Dullarbtons and Elipsgeen Book value RM’million Fair value RM’million Recognised amounts of identifiable assets acquired and liabilities assumed: - PPE (Note 5) 875.9 975.4 - ROU assets (Note 6) 83.8 83.8 - Deferred tax assets (Note 12) 3.5 3.5 - Long term receivables 2.6 2.6 - Derivative financial