Bodker says deal is on with Saatchi

London restaurateur Christopher Bodker, owner of the Avenue and the Circus, says he has reached agreement with advertising magnate Charles Saatchi to build an international chain of restaurants.

But Saatchi has issued a press statement denying the deal. "I have looked at a number of proposals but I am currently not moving on any of them, including Mr Bodker's," he said.

Bodker insisted an agreement was in place. "Charles wanted to make his art collection more accessible to the public. He wanted to build some restaurants and I suggested that it was with us."

The first of the chain, called Sensation after last year's controversial art exhibition featuring works from Saatchi's collection, could be in central London by next summer.

The remaining sites will be in cities around Australia, Europe and the USA along the route of the Sensation tour.

In a separate deal Bodker has bought a 95.5% stake in Place Restaurants for an undisclosed sum. No changes will be made to the company's portfolio, which includes Kensington Place, Launceston Place and the Brackenbury, all in London.