£100m raised for Sorrell ad venture

FORMER WPP boss Sir Martin Sorrell has raised £100m for his new advertising venture which has won support from Unilever.

Sorrell, 73, is preparing to float his new company S4 Capital this week through a reverse takeover by Derriston Capital.

He has also raised £50m in debt funding to spend on a reported ‘wish list’ of firms he has targeted for takeover.

Sorrell’s imminent stock market return comes amid allegations he used company money to pay for prostitutes and bullied WPP staff, all of which he denies.

The venture has already received support from Marmite maker Unilever, which hinted it could hire S4 Capital in future.