Senior managers at Sir Terence Conran’s restaurant group are negotiating with private equity backers to buy a significant stake in the business. One option will be to float Britain’s largest privately-owned restaurant group, which is thought to be worth around £100m. Profits at the restaurant and retailing group Conran Holdings increased from £2.6m to £36.7m during the latest financial year after the sale of its 50% stake in London's Great Eastern Hotel for £33.2m. Conran runs 20 restaurants in Britain, Paris and New York, including Sauterelle, Bibendum and Bluebird in London. Figures to be published at Company House are expected to show the company used the windfall to pay off a £20m loan. It also paid £2.3m in bonuses to management and staff, along with dividends of £14.3m. According to The Sunday Telegraph, Sir Terence Conran is now on the lookout for more London hotels. The Business 03/09/06 page 3 The Sunday Times 03/09/06 (Business) page 3.3 The Sunday Telegraph 03/09/06 (Business) page 1