Question
On page 14, Lazard split IPayment into two pieces for valuation: ongoing business and FDC portfolios with the latter only using discounted cash flow methodology.
Valuation MethodologyOn page 14, Lazard split IPayment into two pieces for valuation: ongoing business and FDC portfolios with the latter only using discounted cash flow methodology. FDC portfolio is likely a purchased portfolio of loans that mature and not an ongoing business. Why did they do this? Why did they not do comparable trading or precedent transaction multiples for the FDC portfolio business?
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Successful Fundraising For Arts And Cultural Organizations
Authors: Carolyn S. Friedman, Karen B. Hopkins
2nd Edition
1573560294, 978-1573560290
