Sir Martin Sorrell raises £100m for his new advertising venture
Former WPP boss Sir Martin Sorrell has raised £100m for his new advertising venture which has won support from Unilever.
The significant sum is boosted by a further £50m in debt funding, offering a springboard for Sorrell in his bid to forge a challenger marketing firm specialising in technology, data and content.
Sorrell is also preparing to float his new company S4 Capital this week through a reverse takeover by Derriston Capital.
Sorrell has also pumped £40m of his own personal wealth into the business, leveraging a further £11m from other investors having stated categorically that he is not yet ready for retirement.