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Property tycoon Robert Tchenguiz has sold a 25 per cent stake in All Bar One owner Mitchells & Butlers to billionaire trader Joe Lewis at 130p a share.
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Mr Tchenguiz, who retains a 4 per cent stake, was pushed into the sale after having a loan called in by Icelandic bank Kaupthing.
Mr Tchenguiz's desire to hive off Mitchells & Butlers' property assets had become a negative for most investors. So the sale could provide a fillip, but the heavily indebted group's shares are still high enough at 168p.
Last IC View: Sell, 255p, 23 Sep 2008.
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-IC-1.5.4a-prod - 31/10/2008 13:11:34 - carlos.princz
