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UK: M&B to return £500m to shareholders

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As part of a securitisation of its pubs and restaurants, the UK pub company Mitchells & Butlers is to return £500m pounds (US$831m) to shareholders.

The £1.9 billion securitisation is being seen as a move to defend against any possible takeover bids for the group, after it demerged from Six Continents in April.

M&B intends return the money through a special dividend of 68 pence per share and use the rest of the proceeds to refinance its existing debts.


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