George Soros invests in Lookers

Billionaire investor George Soros has snapped up a 4.5 per cent shareholding in Manchester-based Lookers car dealership. The 82-year-old, famous for his £10bn bet against the exchange mechanism in 1992, is thought to have paid around £12m, based on the firm’s £267.6m stock market value on Friday. Soros bought the shares through Soros Fund Management. He made the move after Looker’s shares fell by up to 5.2 per cent on Wednesday and Thursday when it was announced that Jack Petchey's investment vehicle, Trefick, had sold its 17.3 per cent stake. Recent Soros investments include a near eight per cent stake in Manchester United, plus investments in Facebook and Google.