Ann: FDV LATAM earn-out update, page-2

Something does not add up in this announcement. 50% of $13.9m USD is more than $5.0m AUD....

So how much did FDV paid for 50% of Infocasas and 75% of E24 in total.

- combined cash earn out of US$23.7m - AU$36m
- AU$8m upfront payment for Infocasas back in June 21
- A$13m for OLX 37.5% share of E24 - December 21

I'm missing the upfront payment value for the 36.2% from E24 founders but without it we got a total of A$57m

FY22 Revenue
Infocasas A$18m --> 50% A$9m
E24 A$10m --> 75% A$7.5m
Total: A$16.5m

So FDV paid 3x FY22 revenue. FDV is currently trading 2x FY22 revenue.

At these prices private equity would be circling FDV. Not sure why they haven't pounced yet.