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 21.6% Total debt immediately after the LBO 550.5 Exit multiple (EV/EBITDA) 8.4 x EBITDA % growth per year 7.5% Exit year 3 % of debt remaining at exit 57.2% Current share price 16.9 Shares outstanding 45.2 LTM EBITDA 157.9 Pre deal net debt 251.8