I like it.The slow learning IB analysts will shortly be able to...

I like it.

The slow learning IB analysts will shortly be able to plug in a valuation number for KAR's South American portfolio by simply referring to 62.1% of KAR SA market capitalisation. Then all they have to do is add on the cash in KAR and value its WA assets and all done.

KAR should improve steadily from here as:

1. KAR SA allows for the acceleration of exploration of that portfolio with the funds generated; and

2. Should also focus the minds of other acquisitive names looking in the region and highlight the attractiveness of KAR where the sum of its parts remains significantly greater than the whole at present.

DYOR!