I'm with imback. Denk I think you have got it wrong there. Point...

I'm with imback. Denk I think you have got it wrong there.
Point 17. We retain the 31 current investment cases.

The ROIC is the critical number and that wasn't in the release. As long as that ROIC is low and allows us to still capture most of the economic profits from our activities going forward I think its a good deal. Yes we move from "Litigation Funder" to "Litigation sourcer and litigation asset manager" but it makes us more of a capital light business.

I was expecting this announcement closer to mid year as it also frees up IMF shareholder capital to re-enter Europe. I thought we could have used our own capital until then.

This deal also paves the way for us to complete with Burford who are doing a lot more portfolio business (whereas we have been more case by case). When I hear back from mgt about the ROIC I will post it.