Equity Investments – at FVOCI
Investment in Tyres On The Drive8.18.1

During the prior year the Group acquired a minority stake in an automotive related business, Tyres On The Drive. The investment is payable in instalments, and comprised an initial cash consideration of £4.1m in FY17. An additional £3.5m has been invested in FY18, with a further £0.5m subject to performance conditions being met. A total of £8.1m has been recognised as an investment, with a liability held for the remaining instalment.

At 1 April 2017, the Group designated the investments shown above as equity investments as at FVOCI because these represent investments that the Group intends to hold for long term strategic purposes. In the prior year, these were classified as available for sale – see Note 21.

Fair value at 30 March 2018Dividend income recognised in the period
Equity Investments – at FVOCI
Investment in Tyres On The Drive8.1

No strategic investments were disposed of during the year, and there were no transfers of any cumulative gain or loss within equity relating to these investments.

Information about the Group's exposure to credit and market risks, and fair value measurement is included in Note 21.