Near Sheikh Tahnoun reports with a stake in the Empire of Richard Hospitality Empire

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Richard Kerning is in advanced talks to sell a large part of his hospitality empire in the United Kingdom-which includes a chain of ivy restaurants and the Annabel Club for London members-to an entity controlled by Abu Dhabi Royal Sheikh Tahnoun bin Zayed Allah.

The conversations between the care, which is called “King of Mayfir”, and the varying company, IHC – which have been continuing for some time and intensified in recent weeks – may lead to a deal that may exceed more than one billion pounds, according to people who have knowledge of the topic.

The deal will determine a partial exit for nursingA 76 -year -old rag dealer turned into a group of properties that over decades collected a portfolio of some of the most famous real estate in the UK lifestyle. He will also hand over the financing of the businessman to take his commercial brands like IVY to new markets.

The exact parameters of any treatment remain in a state of flow but are based on care efforts to sell a stake in Troia, the company that owns the IVY group, which consists of more than 40 restaurants in the United Kingdom and Ireland.

However, the conversations have spanned so that the deal can include other Caring Assets, such as the clubs of his elite members in Mayfair – including Annabel’s, George and Harry. These clubs are held in an entity called Mark Perley Holdings, who participates in Qatar Royal and former Prime Minister Sheikh Hamad bin Jassim bin Jaber Thani.

Besides Troia and Mark Birley Holdings, other Caring companies in the informal food chain and Caprice Holdings, which have high -end restaurants including exciting fish, silent and Bacchaania.

The concerned persons emphasized that there was no guarantee of a deal agreement between iHC and care, and highlighted the changing nature of the price and assets discussions.

Caring controls his empire through a complex network of investment vehicles, which it eventually owns through the holding companies abroad in Jersey and the British Virgin Islands. The hospitality pole also raised the debts that exceed these silos, as companies have shown that Troia, Caprice and Mark Birley Holdings have jointly guaranteed bank loans.

IHC, the most valuable company on the Abu Dhabi Stock Exchange by the market value, is the sprawling group that controls it Sheikh TanonNational Security Adviser to the United Arab Emirates and brother of President Sheikh Mohammed bin Zayed.

One of the most powerful men of Abu DhabiSheikh Tanon also leads the UAE pushing artificial intelligence through its G42 group. He visited the White House earlier this year and regularly met the technology executives in the United States.

IHC has already has many hospitality investments. Alpha Dhabi Holdings is listed in the list with a controlling share in the National Tourism and Hotels Corporation, which includes luxury hotels in Abu Dhabi, Maldives and Seychelles. Through a joint venture with Monerock International, an investment group with a large wallet for hospitality, Alpha Dhabi also owns brands in brands including the Greek Luxury Resorts Nammos resorts.

IHC said it “is involved regularly in discussions about various opportunities across the sectors” and that it reveals “any material developments once the treatment is confirmed”, in line with the regulations in force.

He refused to pay attention to comment.