Merger of a subsidiary

What happens to intercompany loans

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Company B is 100% owned by Parent Company A, with several intercompany trading balances and loans between the two.

The decision has been made for the parent and subsidiary to merge, for nil consideration. Upon hive up :

- Will the intercompany balances simply net off, with zero P&L impact? 

- Company B has some goodwill on the balance sheet (as part of a previous company purchase). Will this simply transfer as an asset into the combined Parent Company A accounts? 

Thank you!! 

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