Waterstones Sold

Alexander Mamut of Lynwood Investments has sold a majority stake of UK-based bookstore chain Waterstones to Elliot Advisors, the UK branch of Paul Singer’s Elliott Management hedge fund. James Daunt will remain as CEO, a post he’s held since 2011, and Lynwood Investments will retain a minority share. Waterstones has more than 280 bookshops in the UK and Europe.¬†Daunt says they are in “expansion mode” and plan to open more shops. The terms of the deal were not made public.

 


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