i hope so.
It probably depends on the price for the 49 % of OB Media they do not yet own.
Given the growth profile of OB Media, I estimate that they would have to pay at least 225 m.
It means that Enero would have to take a significant amount of debt, as they had only 47 m of net cash at 31/12/21.
If I remember well, they said recently that they did not want to buy the rest of OB Media.
But their view of OB Media has changed so much : OB Media was considered "non core" as some stage and later on turned to "core" and they said they wanted to do more acquisitions in the US, in businesses related to OB Media.
Once again, it also shows the low valuation of Enero as it has an EV of only 249 m, which is almost fully covered by my valuation of their 51 % in OB Media.
Ann: FiftyFive5 acquires TLE and TDE from Enero portfolio, page-5
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