Tchenguiz Winner As M& B Takes Reit Route ; Leisure

Evening Standard - London › May 20, 2008

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Summary

PUBS group Mitchells & Butlers today bowed to pressure from property tycoon Robert Tchenguiz, agreeing to put his representatives on the board and shake-up the business in line with his wishes.

Tchenguiz has been pushing for M& B to split its property and pub interests for some time. After a strategic review, M& B said it will turn the company into a real estate investment trust (Reit) "when market conditions are right", allowing investors to benefit from the value of its property and cutting its tax bill.

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Extract

Tchenguiz Winner As M& B Takes Reit Route ; Leisure

Tim Smalley and Aaron Brown, two Tchenguiz advisers, will join the ...

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