That valuation is way over the top.
All they have is $140m in cash out of the deal and a loan book which cant grow but has to die over time.
Say the life of the loanbook is another 7 years before all have left at an average profit of $20m per year = $140 million.
The whole lot may just be worth 80c or could readily be back at 50c.
I would be clear of this for now!
I am surprised that the market has settled as high as the current 71c mark.
