Conran selling D&D stake

By Claire Miller

- Last updated on GMT

Related tags: Terence conran, Middle east

Terence Conran is to sell a large part of his remaining D&D stake

TERENCE Conran is to sell his controlling stake in D&D London, formerly known as Conran Restaurants.

Conran currently holds a 51 per cent stake in the company, which is said to be worth over £200m. The entrepreneur sold 49 per cent back in 2006.

Conran is to reduce his holding amidst signs of a slowdown, but is reportedly not off-loading his entire stake.

Goldman Sachs has been appointed to handle auctioning the stocks, with parties from the Middle East and Asia and a number of private equity firms said to be interested.

D&D have plans to expand the business internationally and move into the hotel sector. According to the company’s latest figures, operating profits are up 40 per cent to £4.3 million, and it is continually expanding with three new London sites to be added to the portfolio.

Des Gunewardena, D&D Chief Executive told the Telegraph: "We are seeking partners to take the business to the next stage of expansion.

"There are big opportunities to expand the group in London, New York, Asia and the Middle East."

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