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Irish tycoons raise stake in M&B

By Ewan Turney , 07-Nov-2008

Irish racing tycoons John Magnier and JP McManus have upped their stake in Mitchells & Butlers.

The pair raised their stake from 11.2% to 12.02% yesterday via the Elipda investment fund.

The tycoons have also previously invested with Joe Lewis, who acquired a 25% stake in M&B from Robert Tchenguiz in August.

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