UK pubs group Mitchells & Butlers to raise $486 million

Mon Feb 15 2021
UK pubs group Mitchells & Butlers to raise $486 million

Mitchells & Butlers said on Monday it intends to raise 350 million pounds ($486.05 million) through an open offer of shares, and has reached an agreement with its bankers for a new credit facility.

The company also said Piedmont Inc, Elpida Group and Smoothfield Holding, which collectively own around 55% of the pub owner, had formed a consortium called Odyzean Ltd to become its majority shareholder.

Tags UK
Nick

Nick

Nick Jason is our Europe based Correspondent. He covers news related to Stock Market Commodities & Currencies. He currently lives in London.