According to information obtained by News, Mr. Caring, who started looking into auctions late last year, is about to sign a contract with Si Advisers, a relatively unknown London-based company.
According to sources, a formal agreement may be reached in a few weeks and would be valued at roughly the £1 billion that has been suggested as a value for the company during the previous eight months.
Mr. Caring, known as “the king of Mayfair,” who owns some of the priciest and most exclusive restaurants and private members’ clubs in the world, will consider the deal a victory.
It is anticipated that he will sell almost all of his ownership in The Ivy Collection, which now consists of dozens of eateries in posh areas of Britain.
Selling is also anticipated from other shareholders, notably a fund based in Qatar.
Mr. Caring’s other restaurants—Scott’s, Sexy Fish, and J Sheekey in London, as well as clubs like Annabel’s and Mark’s Club in Mayfair—will not be included in the sale.
Considering the roster of well-known sovereign and private investors who contemplated placing a bid for The Ivy Collection, the buyer’s identity will be shocking.
