Elpida, the investment vehicle of Irish racing tycoons JP McManus and John Magnier, has again increased its stake in Mitchells & Butlers (M&B). They now control just over 12% of the pub and casual dining group.
The duo yesterday announced they had moved there stake up from 11.2% to 12.02%.
Magnier and McManus, who together own the Coolmore racing stables, have close ties to Joe Lewis, the billionaire invester who recently emerged with a 25% stake.
Shares in M&B are currently 182p, giving a market capitalisation of £736.9m.
