Hi, Regarding GPCM, when do we add the control premium?

Given the following example:

- MV Debt: 1 100 000
- Normalized EBITDA: 12 800 000
- Average MVIC/EBITDA = 8
- The company we are valuing is more risk, so we deflate the multiple by 20%
- Adjusted multiple: 8 x (-0.2) = 6.4
- Vo = 6.4 x 12 800 000 = 81 920 000
- Ve = 81 920 000 - 1 100 000 = 80 820 000

- Lets assume that the transaction I was comparing with was for a non controlling interest and I was taking a controlling interest. And the Control Premium is 10%. Would I then simply add 10% to the equity part at the end of my calculation?

- Ve = 80 820 000 x 1.10 = 88 902 000
- Vo = 88 902 000 + 1 100 000 = 90 002 000

- If I was comparing with a company that was acquired for a controlling interest and I was looking at it from a minority shareholder would I then deduct the control premium at the end? Control Premium is 10%.

- Ve = 80 820 000 x 0.90 = 72 738 000
- Vo = 72 738 000 + 1 100 000 = 73 838 000

Is this the correct way of doing it?