notes to consolidated financial statements 2014 ( continued ) in connection with these discover related purchases , we have sold the contractual rights to future commissions on discover transactions to certain of our isos . contractual rights sold totaled $ 7.6 million during the year ended may 31 , 2008 and $ 1.0 million during fiscal 2009 . such sale proceeds are generally collected in installments over periods ranging from three to nine months . during fiscal 2009 , we collected $ 4.4 million of such proceeds , which are included in the proceeds from sale of investment and contractual rights in our consolidated statement of cash flows . we do not recognize gains on these sales of contractual rights at the time of sale . proceeds are deferred and recognized as a reduction of the related commission expense . during fiscal 2009 , we recognized $ 1.2 million of such deferred sales proceeds as other long-term liabilities . other 2008 acquisitions during fiscal 2008 , we acquired a majority of the assets of euroenvios money transfer , s.a . and euroenvios conecta , s.l. , which we collectively refer to as lfs spain . lfs spain consisted of two privately- held corporations engaged in money transmittal and ancillary services from spain to settlement locations primarily in latin america . the purpose of the acquisition was to further our strategy of expanding our customer base and market share by opening additional branch locations . during fiscal 2008 , we acquired a series of money transfer branch locations in the united states . the purpose of these acquisitions was to increase the market presence of our dolex-branded money transfer offering . the following table summarizes the preliminary purchase price allocations of all these fiscal 2008 business acquisitions ( in thousands ) : .

1	total
2	goodwill	$ 13536
3	customer-related intangible assets	4091
4	contract-based intangible assets	1031
5	property and equipment	267
6	other current assets	502
7	total assets acquired	19427
8	current liabilities	-2347 ( 2347 )
9	minority interest in equity of subsidiary ( at historical cost )	-486 ( 486 )
10	net assets acquired	$ 16594

the customer-related intangible assets have amortization periods of up to 14 years . the contract-based intangible assets have amortization periods of 3 to 10 years . these business acquisitions were not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to these acquisitions . in addition , during fiscal 2008 , we acquired a customer list and long-term merchant referral agreement in our canadian merchant services channel for $ 1.7 million . the value assigned to the customer list of $ 0.1 million was expensed immediately . the remaining value was assigned to the merchant referral agreement and is being amortized on a straight-line basis over its useful life of 10 years . fiscal 2007 on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the asia-pacific merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc asia pacific . this business provides card payment processing services to merchants in the asia-pacific region . the .

Question: what portion of total assets acquired is composed of goodwill?
Answer: 0.69676