How does HGB PPA differ from IFRS 3 PPA for German middle-market companies?

IFRS 3 requires broad fair-value recognition of identifiable assets and liabilities and no goodwill amortization. HGB is more conservative, uses local measurement rules, and goodwill is amortized. For German Mittelstand targets, an IFRS buyer often needs a bridge for hidden reserves, pensions, provisions, leases, deferred taxes, and separately identifiable intangibles.