thorney opportunities ltd

Wentworth is about to morph in to Thorney Opportunities Limited. Its a fairly complex deal, but with some big names on board, it looks like a good spec to me;

From today's Australian (part);

Thorney Opportunities will launch in November following a $50 million recapitalisation of listed cashbox Wentworth Holdings. Wentworth will raise $40m from sophisticated investors, including $15m from Thorney, and plans to seek a further $10m under a prospectus to retail investors.

So far the group is understood to have received bids of $29m from a range of self-made millionaires including Mesoblast chief executive Silviu Itesco, Monadelphous chairman John Rubino, chairman of Wilson Asset Management Geoff Wilson and David Paradice of Paradice Asset Management.

The retail offer will be launched next month through broker Wilson HTM. Mr Waislitz said Mr Rubino would help the company pursue opportunities in the "beaten up" mining and resources sector, "which he knows as well as anyone in the country".

"There will definitely be opportunities in that sector and we will definitely be looking at them, as we already are," Mr Waislitz said.

There is also talk of sniffing around Fairfax, in a different article. WWM will be consolidated and its price will be much higher than 11 cents, which will also attract attention.

With those big names and big money in control, I doubt if the company will remain unloved for long.