In accordance with IFRS 5, Non-current assets classified as held for sale and discontinued operations (Note 4.7), the group has classified nonstrategic assets under this heading which are undergoing divestment with committed sales plans.
The assets classified as held for sale, after deducting their liabilities, were measured at the lower of their carrying amount and the expected sales price minus costs.
Specifically, at 31 December 2019, the Group had classified the holdings in the companies Sotocaribe, S.L. and Capredo Investments, GmbH as discontinued operations. Given the uncertainty associated with these sales processes, the Group has decided to continue consolidating these holdings. Sotocaribe, S.L. was consolidated by the equity method (Note 12), while Capredo Investments, GmbH was consolidated by the global method.
On the other hand, at 30 June 2020, the Group recorded the property company “Onroerend Goed Beheer Maatschappij Maas Best, B.V.”, owner of the NH Best hotel in the Netherlands, as available for sale. The sale was concluded on 1 July 2020.
Consolidated balance sheets. Headings of Non-current assets and liabilities classified as held for sale:
A movement by balance sheet heading of the assets and liabilities presented under the corresponding Held for Sale headings is shown below (in thousands of euros):
