If ever a company needed a white knight it’s M&C Saatchi and the troubled UK-quoted agency may have found one in Vinodka (Vin) Murria, the tech entrepreneur. Murria (below) and family interests have paid around £6m for 13.25% of the agency whose shares have been blitzed by the discovery of accounting irregularities.
M&C’s value has now recovered to nearly £66m after falling below below £30m earlier this the year. At its peak it was worth around £300m.
Murria was the founder of Advanced Computer Software Group which was sold for £725m in 21014. She has also been a non-executive director of Chime communications, the owner of VCCP and various sports-related businesses, so presumably she knows what she’s getting into.
We wait to see what happens to the still-standing members of M&C’s management: CEO David Kershaw and co-founders Jeremy Sinclair and Bill Muirhead. Moray MacLennan heads the international network.