Sir Terence Conran, the British entrepreneur, is to sell his majority share of the D&D London restaurant chain.

D&D London, formerly known as Conran Restaurants, has received a number of approaches recently and has expressed an interest in expanding the company internationally and moving into the hotel sector.

According to The Sunday Telegraph, group chief executive Des Gunewardena said that the company would appoint Goldman Sachs to auction off Conran’s controlling 51 per cent stake, which could be worth more than £100m.

Gunewardena told the paper that the company was “seeking partners to take the business to the next stage of expansion. There are big opportunities to expand in London, New York, Asia and the Middle East.”

It is thought Conran will just reduce his holding rather than offload his entire stake.