Molinare is larger than Sunset & Vine so a merger would, in effect, be a reverse takeover. The board said that if the proposed deal goes ahead it will require shareholder approval. Last month Sunset & Vine issued a profits warning, saying that its second-half profits would not "significantly" exceed its interim profits of pounds 278,000.
Welcome to the new Independent website. We hope you enjoy it and we value your feedback. Please contact us here.
Shares in Sunset & Vine, the independent television producer, were suspended yesterday at 100p as the company announced that it is in discussions which may lead to a substantial acquisition. Market speculation has linked it to a possible deal with the privately-controlled Molinare, a Soho-based facilities house.