Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 341

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 341
---
S 3 - Business combinations. The following business combinations were completed during the years ended December 31, 2024, 2023 and 2022.

Year ended December 31, 2024

a. Tria

On April 02, 2024, the Group closed on a transaction acquiring 66.67 100 19.8 66.67 33.33

  Patria Investments Limited      F-68  

  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)       
 ─────────────────────────────────────────────────────────────────────────────────────────────

The goodwill from the business combination with Tria enables the Group to expand and complement its current infrastructure vertical by adding expertise from the energy sector in Brazil. The current arrangement of the goodwill recognized for the acquisition of Tria does not allow its tax deductibility under the Brazilian tax regulations. However, the Group is working with tax consultants to determine the options available to the Group, taking into consideration the necessary conditions and restructurings required for the goodwill to be utilized for tax purposes in future.

The acquired business contributed other income of US$ 6.6 3.5

Details of the purchase consideration paid, the net identifiable assets acquired, non-controlling interest and goodwill recognized are listed in the table below. The cash consideration is comprised of cash and accounts receivable paid by the Group for its investment in Tria. On a consolidated level there were no cash outflows for the Group.

b. GPMS

On April 26, 2024, the Group closed a transaction acquiring a private equity carve-out interest from Aberdeen Plc, a European global investment group. The newly acquired business, together with Patria’s existing global private markets vehicles, will form a new vertical - Global Private Markets Solutions (“ GPMS”), with an aggregate Fee Earning AUM (“ FEAUM”) of over $ 8.0

The goodwill from the carve-out business combination with Aberdeen Plc enables the Group to further develop its capabilities to serve clients using the new GPMS vertical as a gateway to private markets on a global scale. The goodwill is not deductible for tax purposes given the jurisdiction and specific tax regulations applicable to the acquiring company.

The acquired business contributed revenue of US$