Using information about the following company, calculate the share premium / (discount) a private equity house will be willing to pay for the Company. Assume pre deal net debt is refinanced. Assume the company has no dilutive securities. Required IRR 22.4% Total debt immediately after the LBO 567.5 Exit multiple (EV/EBITDA) 8.5 x EBITDA % growth per year 6.8% Exit year 3 % of debt remaining at exit 59.8% Current share price 16.8 Shares outstanding 45.4 LTM EBITDA 155.7 Pre deal net debt 260.8 -23.8% 65.4% -9.0% 31.2%