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."

Related topics: Business

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