6. BUSINESS ACQUISITION On January 18, 2012, the Company acquired the remaining 50% equity interest in its joint venture, Bluewater Gandria, which owns the LNG carrier, the Golar Gandria for $19.5 million . Bluewater Gandria is a company pursuing opportunities to develop offshore LNG FSRU projects. The Golar Gandria was acquired, reactivated and earmarked for conversion into a Floating Liquefied Natural Gas Vessel. Details of the purchase consideration, the net assets acquired and goodwill are as follows: (in thousands of $) January 18, 2012 Fair value of previously held 50% equity interest (a) 19,500 Purchase consideration - cash 19,500 Total assumed acquisition consideration 39,000 Less: Fair value of net assets acquired: Vessel and equipment, net 40,000 Inventories 931 Cash 62 Prepayments 40 Other liabilities (100 ) Subtotal (40,933 ) Gain on bargain purchase of Bluewater Gandria (1,933 ) The impact on the statement of operations of the acquisition of Bluewater Gandria is as follows: (in thousands of $) Gain on remeasurement (a) 2,356 Gain on bargain 1,933 Less: Acquisition related costs (205 ) Total gain on acquisition of Bluewater Gandria 4,084 As a result of acquiring the remaining 50% equity interest, we recognized a gain on bargain purchase as the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired. We performed an assessment of the fair values of the assets acquired, liabilities assumed and consideration transferred. The assessment confirmed our gain on bargain purchase. a) Remeasurement of equity investment in Bluewater Gandria On January 18, 2012, the Company remeasured its previously held 50% equity interest in Bluewater Gandria to its fair value as set forth in the table below: (in thousands of $) Equity investment in Bluewater Gandria Fair value of previously held 50% equity interest 19,500 Less: Carrying value at acquisition date (17,144 ) Gain on remeasurement of equity interest 2,356 The fair value of the Company's previously held investment in Bluewater G