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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