By Jess Jones
Billionaire restaurateur Richard Caring has reportedly launched an auction starting at £1bn for his share in The Ivy and its sister restaurants.
HSBC has started distributing marketing materials to potential buyers of the popular restaurant as well as the Ivy Collection and Ivy Asia sites, according to The Times.
Caring, also known as the ‘King of Mayfair’, co-owns the Ivy group in a 50/50 partnership with former Qatari Prime Minister Sheikh Hamad Bin-Jassim Bin-Jaber Al Thani.
It is understood that the British businessman, who owns The Ivy Collection via his restaurant business Caprice Holdings, holds full operational control and voting rights.
The Ivy chain is renowned for its celebrity clientele and upmarket dining experience. Rumours of the sale first surfaced in December last year.
Caring’s other restaurant assets, including Sexy Fish, London’s Scott’s, and J Sheekey, as well as his private members clubs, are excluded from the sale.
City A.M. has contacted Caprice Holdings for a comment.
