RUSSIAN OWNER COULD CASH IN ON £250m WATERSTONES
BOOKSHOP chain Waterstones could be put up for sale by its Russian oligarch owner.
Alexander Mamut has reportedly brought in advisers to look at options for the company – which could be worth £250m – as a way of raising cash.
The tycoon is a major shareholder in Otkritie, Russia’s biggest private bank, which was bailed out by the authorities during the summer.
New bosses at Otkritie are said to be demanding help to plug a multi-billion-pound hole in its finances, which they claim has been caused by shareholders funding business deals.
Mamut bought Waterstones from HMV for £53m in 2011, and advisers at Rothschild have been reaching out to potential buyers, according to The Sunday Times. A source said a sales process would not be expected to start until next year.
Last night neither Waterstones or Mamut could be reached for comment.