Travers Smith LLP has advised new client Sir Martin Sorrell and his new investment vehicle S4 Capital Limited on S4 Capital's establishment, accelerated private placement and share-for-share reverse acquisition by Derriston Capital plc. Following completion of the acquisition, Derriston will change its name to S4 Capital plc and Sir Martin will become its Executive Chairman.
Sir Martin Sorrell, Executive Chairman of S4 Capital Limited, said: "S4 Capital is a company that aims to build a multi-national communication services business focused on growth. There are significant opportunities for development in technology, data and content. I look forward to making this happen."
Sir Martin was previously Chief Executive of WPP plc and the longest-serving director of a FTSE 100 company. Sir Martin acquired a significant stake in WPP in 1985 when its market capitalisation was approximately £1 million; WPP now has a market capitalisation of in excess of £16 billion.
Corporate Partner Aaron Stocks and Associate Bertie Radcliffe led the Travers Smith team advising Sir Martin and S4 Capital on the establishment of S4 Capital, its £51 million fundraising and acquisition by Derriston. Tax Partners Jessica Kemp and Kathleen Russ, assisted by Associate Siv Devakumar, provided tax advice on the establishment of S4 Capital and its incentive arrangements.