Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 343

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 343
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 to acquire the subsidiary, net of cash acquired:

  Patria Investments Limited      F-72  

  Table of Contents  

  Notes to the consolidated financial statements                                             
  As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022  
  (Amounts in thousands of United States dollars - US$, except where otherwise stated)       
 ─────────────────────────────────────────────────────────────────────────────────────────────

  Cash flow reconciliation                                               Kamaroopin                     Patria Asset Management                     Total                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash consideration                                                                         2,024                                    4,787                        6,811  
  Less: Cash acquired                                                        ( 178)                     —                                          ( 178)                 
  Net outflow of cash -investing activities                                                  1,846                                    4,787                        6,633  
  Non-cash reconciliation                                                                                                                                                 
  Total consideration                                                                       16,861                                   29,202                       46,063  
  Less: Cash consideration paid                                            ( 2,024)                     ( 4,787)                                 ( 6,811)                 
  Less: Class A common share issued                                                      ( 10,130)      —                                                      ( 10,130)  
  Non-cash additions to the Group’s Statement of Financial Position                          4,707                                   24,415                       29,122  

(b) The Group recognizes non-controlling interests in an acquired entity either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. The decision is made on an acquisition-by-acquisition basis. For the non-controlling interests in Patria Asset Management (“ PAM”), the Group elected to recognize the non-controlling interests at its proportionate share of the acquired net identifiable assets.

Year ended December 31, 2022

(a) VBI

On July 1, 2022, the Group acquired control of VBI’s operations by acquiring 50

Adjustments include an increase in purchase consideration related to preferred dividends payable by VBI to the previous controlling owners of VBI resulting in an increase to the fair value of goodwill in note 14 for the same amount. The preferred dividends were paid to provide compensation to the previous owners for the loss of their controlling interest in VBI.

(b) Igah

On