Interview Prep Help - Case Study

Would like some advice on how to approach a case study interview question like this given a CIM and financial overview in excel:

Create your own 5-year P&L projection and returns model for the company. On what economic terms would you take a 30% stake in the business (buying shares from existing shareholders)?

Is it just building down to the EBITDA on the IS and standing by your assumptions given your opinion on the market/analysis of the CIM, with returns generated by projected EBITDA expansion and entry/exit multiples? Then seeing if the target IRR is hit on the 30% investment at end of Y5?

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