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."