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Have you had a look at Ed Bodmer's stuff? I think he has some material on Infra LBO modelling tests. 

I'd expect modelling revenue (possibly from ground up e.g., volume x price + indexation), costs (similarly indexed but likely a simpler assumption), capex, S&Us, debt, and equity analysis (IRR, MOIC, LBO, DCF). If it's 3 hours, I'd also expect sensitivities (should be able to make a scenario manager quickly), more complicated capital structures, debt sizing, cash flow waterfall, finstats, etc.

Also would imagine they would expect you to make loads of assumptions on inputs, just be sensical about them and make sure they are all flexible/in scenario manager. Have an inputs/scenmanager tab and model tab. Feel free to DM if any more questions!

 

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