Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 308

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 308
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cing outputs and are considered unique or scarce or cannot be replaced without significant cost, effort, or delay in the ability
to continue producing outputs.

Acquisitions of businesses, other than business combination
under common control, are accounted for using the acquisition method. The consideration transferred in a business combination is measured
at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the Group, liabilities
incurred by the Group to the former owners of the acquiree and the equity interests issued by the Group in exchange for control of the
acquiree. Acquisition-related costs are generally recognized in profit or loss as incurred.

The identifiable assets acquired and liabilities assumed must
meet the definitions of an asset and a liability in the Conceptual Framework except for transactions and events within the scope of IAS
37 Provisions, Contingent Liabilities and Contingent Assetsor IFRIC 21 Levies, in which the Group applies IAS 37 or IFRIC
21 instead of the Conceptual Framework to identify the liabilities it has assumed in a business combination. Contingent assets are not
recognized.

<div align='center'>F-53

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
F OR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 2. | APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS 
 (cont.)                                                    |

At the acquisition date, the identifiable assets acquired
and the liabilities assumed are recognized at their fair value.

Goodwill is measured as the excess of the sum of the consideration
transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity
interest in the acquiree (if any) over the net amount of the identifiable assets acquired and the liabilities assumed As of acquisition
date. If, after re-assessment, the net amount of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration
transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously held interest
in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain purchase gain.

Non-controlling interests that are present ownership interests
and entitle their holders to a proportionate share of the relevant subsidiary’s net assets in the event of liquidation