No goodwill

May I suggest that some time is spent reading SKE's 2014 Annual Report.
Total Assets are $873.099 Millions.
LESS Intangible Assets $ 472.007 Millions
LESS Liabilities $394.302 Millions of which term borrowings were shown as $172.924 Millions.
NET TANGIBLE ASSETS $6.790 millions.
By 31 December 2014 the figures are shown as follows:
Total Assets $941 Millions
Less Intangibles $488 Millions
Less Liabilities $459 Millions ( of which term debt is $229 Millions)
NET TANGIBLE ASSETS (negative $6.767 millions).

I didn't know that Intangible assets as some contributors suggest somehow can be termed as tangible.
Reading other contributors comments makes me amazed at saying PRG should pay $1.50 plus per SKE share- for what.
A negative NTA and a big debt.
SKE needs to convince the market that their intangibles ($488 Millions) have real value and that this value could be realised easily.