Hospitality tycoon Richard Caring nears £1bn deal to offload The Ivy
'King of Mayfair': Richard Caring is set to sell the Ivy CollectionHospitality tycoon Richard Caring is closing on a £1billion sale of the restaurant group behind The Ivy.The so-called 'King of Mayfair' is set to sell the Ivy Collection – which runs dozens of sites across the UK – to London-based investment firm Si Advisors.Caring, 76, owns a controlling stake in the company, which runs the original Ivy in West London and its spin-off chain restaurants, as well as Ivy Asia sites, alongside Sheikh Hamad bin Jassim bin Jaber al-Thani, the former prime minister of Qatar. The pair put the business up for auction at the start of the year.Both are expected to sell their stakes as part of the Si Advisors deal, which was first reported by Sky News. However, the deal will not include Caprice Holdings, Caring's group of other restaurants including London's Scott's, Sexy Fish and J Sheekey.Caring and the Ivy Collection declined to comment on the reports last night.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthSaxoSaxoGet £200 back in trading feesTrading 212Trading 212Free dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Hospitality tycoon Richard Caring nears £1bn deal to offload The Ivy
