Ann: Acquisition of Interest in GOM - Investor Presentation, page-33

To me the investment is not worth it at face value.

747m US and the returns seem marginal.

There simply are better opportunities about especially in a world of rising interest rates and US in a bit of a pickle with citizens having issues and massive debt issues in USA.

At least with Brazil the valuations are off a low base which reduces risk and the potential upside considering other possibilities is far higher.

I can see why LLOG is selling, put it that way and KAR is getting bigger but that makes it less nimble, complicated with more debt and other hurdles to navigate as well. KAR becomes less of a POD and simply in a basket of companies which are vulnerable to particular market movements will love depending on how they want to manipulate it

Some institutions and executives will like it but others could run for better opportunities. It seems some will not let KAR get off the ground from its own development and success. In a way KAR is losing autonomy and robustness from separation so certain investors will look for other vehicles instead to create wealth and prosperity

The 2.05 from 2.70 is a way to attract investment as well for the simples, but KAR is a different beast. If the shit hits the fan, KAR has less ability to seize the moment now