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UK pubs group Mitchells & Butlers to raise $486 mln

Feb 15 (Reuters) - Mitchells & Butlers said on Monday it intends to raise 350 million pounds ($486.05 million) through an open offer of shares, and has reached an agreement with its bankers for a new credit facility.

The company also said Piedmont Inc, Elpida Group and Smoothfield Holding, which collectively own around 55% of the pub owner, had formed a consortium called Odyzean Ltd to become its majority shareholder. ($1 = 0.7201 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Devika Syamnath)

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