As has been expected since they initiated an exclusive negotiation period at the end of January, hedge fund Elliott Advisors has reached a deal to acquire and finance UK bookselling chain Waterstones, for undisclosed terms. They are financing the transaction — a good portion of which likely includes either the assumption, or repayment, of Waterstones’ debt of between 83 million and 139 million pounds — themselves. Current owner Alexander Mamut’s Lynwood Investments will retain a minority stake, however, and the deal is expected to close in early May. James Daunt will stay on as ceo of the chain. Head of […]
