An announcement is said to be imminent from Sir Terence Conran that he has sold a 49% stake in his upmarket restaurant business, to a management team led by Des Gunewardena, Conran Holdings chief executive . The Bank of Scotland (BoS)-backed deal is believed to value Conran Restaurants at up to £50m. It is thought Conran Holdings would retain 51% of the restaurant operation. BoS would take almost 20% and the management the remainder. The Times 09/09/06 page 58 (Need to know), page 63