25 Acquisitions and disposals

During the year the Group acquired a number of small businesses as summarised below.
	Total £m
Intangible assets	2
Property, plant and equipment	1
Trade and other receivables	1
Trade and other payables	(1)
Net assets acquired	3
Goodwill arising	7
	10

Financed by:
Net cash outflow per cash flow statement	6
Dilution of minority interests due to share issue	4
	10
There were no significant fair value adjustments in respect of the net assets acquired.

During the year the Group disposed of its interests in a number of small businesses, as summarised below.
	Total £m
Property, plant and equipment	2
Inventory	1
Trade and other receivables	2
Trade and other payables	(1)
	4
Investments in joint ventures	1
Net assets	5
Loss on sale or termination of businesses	(2)
Net cash inflow per cash flow statement	3