{"id":1698,"date":"2020-05-14T16:04:11","date_gmt":"2020-05-14T15:04:11","guid":{"rendered":"http:\/\/vasariglobal.com\/?p=1698"},"modified":"2015-05-22T14:36:47","modified_gmt":"2015-05-22T13:36:47","slug":"diageo-announces-18m-investment-for-mortlach-site-123","status":"publish","type":"post","link":"https:\/\/vasariglobal.com\/news\/diageo-announces-18m-investment-for-mortlach-site-123\/","title":{"rendered":"Cash shell Sacoven plans \u00a3500m buyout"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row][vc_column width=&#8221;1\/6&#8243; offset=&#8221;vc_hidden-xs&#8221; drop_shadow=&#8221;&#8221;][\/vc_column][vc_column width=&#8221;2\/3&#8243; el_class=&#8221;newsItemMainColumn&#8221; drop_shadow=&#8221;&#8221;][vc_column_text el_class=&#8221;darker-text&#8221;]A cash\u00a0shell advised by the former boss of fruit juice maker Del Monte is saying yes to a listing on London\u2019s junior market.<!--more-->[\/vc_column_text][vc_single_image image=&#8221;1732&#8243; border_color=&#8221;grey&#8221; img_link_large=&#8221;&#8221; img_link_target=&#8221;_self&#8221; rounded_image=&#8221;&#8221;][vc_column_text]Sacoven will raise \u00a33million when it joins Aim at the end of this month with a market value of \u00a36million. It is being advised by brokers Liberum Capital.<\/p>\n<p>The company is seeking to buy a business in the consumer goods or natural resources sectors with a focus on Europe and emerging markets.<\/p>\n<p>The target business \u2013 which Sacoven plans to take full ownership of \u2013 is expected to have a value of between \u00a3200million and \u00a3500million, though smaller firms will also be considered.<\/p>\n<p>It has yet to identify a suitable target but when it is in a position to make a move Sacoven will raise further funds from new and existing shareholders to seal the deal.<\/p>\n<p>If it fails to find a suitable target within 18 months of admission to Aim it will seek shareholder permission to continue searching for at least one more year.<\/p>\n<p>Sacoven\u2019s Investment adviser is Vasari Global, led by South \u00adAfrican entrepreneur Vivian Imerman.<\/p>\n<p>He has over 20 years\u2019 experience of turning round some well known food and drink brands \u2013 including Del Monte, where he was chairman and chief executive.<\/p>\n<p>After joining the firm in 1993, Imerman built it up with growth and acquisitions before selling his stake in 2001 for \u00a3380million.<\/p>\n<p>He also helped double profits as chairman of Scottish whisky maker Whyte &amp; Mackay before selling the firm in 2007 for \u00a3595million.[\/vc_column_text][vc_column_text el_class=&#8221;arrowLink&#8221; css=&#8221;.vc_custom_1432115078548{margin-top: 10px !important;}&#8221;]<a href=\"http:\/\/www.express.co.uk\/finance\/city\/320030\/Cash-shell-Sacoven-plans-500m-buyout\" target=\"_blank\">View Original Article<\/a><br \/>\nExpress[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/6&#8243; offset=&#8221;vc_hidden-xs&#8221; drop_shadow=&#8221;&#8221;][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/6&#8243; offset=&#8221;vc_hidden-xs&#8221; drop_shadow=&#8221;&#8221;][\/vc_column][vc_column width=&#8221;2\/3&#8243; el_class=&#8221;newsItemMainColumn&#8221; drop_shadow=&#8221;&#8221;][vc_column_text el_class=&#8221;darker-text&#8221;]A cash\u00a0shell advised by the former boss of fruit juice maker Del Monte is saying yes to a listing on London\u2019s junior market.<\/p>\n","protected":false},"author":4,"featured_media":1974,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"post_series":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - 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