Joe Lewis, the Bahamas-based billionaire currency trader, has taken a 21.77% stake in pubs group Mitchells & Butler from Robert Tchenguiz.
It emerged today that Lewis, a shareholder in Tottenham Hotspur, has acquired 87,973,937 ordinary shares in M&B through investment vehicle
Tchenguiz sold 105,455,237 shares in the
Aaron Brown and Tim Smalley of Tchenguiz’s R20 investment vehicle have today stepped down as non-executive directors of Mitchells & Butlers with immediate effect.
A spokesman for Joe Lewis said: “We are delighted to have the opportunity to make a significant investment in Mitchells & Butlers.”
