Hi all
My company has a 50% shareholding in a joint venture company, A. A has a wholly owned subsidiary (B) and is going to transfer its interest in this subsidiary to its shareholders (i.e. 50% to my company and 50% to the other joint venturer).
How shall my company account for such purchase of 50% shareholding in B? Shall I use purchase accounting (i.e. to fair value the net assets of B)?
Thanks

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