Property tycoon Robert Tchenguiz has increased his stake in Mitchells & Butlers from 3% to almost 19%, Tchenguiz's investment vehicle Violet Capital said on Monday in a regulatory news filing. The move comes on the back of the collapse of Tchenguiz's £4.5 bn property joint venture agreed last May with the pub chain.
Property tycoon Robert Tchenguiz has increased his stake in Mitchells & Butlers from 3% to almost 19%, Tchenguiz's investment vehicle Violet Capital said on Monday in a regulatory news filing. The move comes on the back of the collapse of Tchenguiz's £4.5 bn property joint venture agreed last May with the pub chain.
Last week, Mitchells & Butlers said a proposed property joint venture with Tchenguiz' investment vehicle R20 may be delayed 'until debt markets improve'. The company added that discussions are continuing with R20 to enable the transaction to be implemented subject to debt markets improving.
