Hi,
I know we don't add associates in the bridge because the company own only between 20% and 50% of the company so 0% of the performance is integrated but what do we do below 20% ? Do we take them away ? Why ? Even if it is not considered operational, this value exists, so why do we remove it?
Thank you very much
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Am I retarded or does this question make absolutely no sense?
Why ? We removed associates in the bridge between equity value and EV because the target company isn’t fully integrated (stake between 20-50%)
The question is : is it the same for companies with a stake below 20% ?
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