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HMV has confirmed that it is in "advanced discussions regarding a potential sale of Waterstone's". The announcement, made late on Friday, follows a day of increased speculation with reports that Russian investor Alexander Mamut had raised his offer to £43m in cash, and that various private equity groups were circling the bookselling chain.
HMV added that there was no guarantee that a sale would happen: "Any such transaction would likely be subject to, amongst other things, shareholder, lending bank and pension trustee approval. There can be no certainty that any transaction will be concluded and a further announcement will be made as and when appropriate."
Mamut tabled the cash offer to HMV Group and its advisors Nomura. The bid is higher than the £35m he was speculated to be offering for the chain. None of the three parties would comment.
The Bookseller understands other parties include restructuring specialist GA Europe, who jointly handled the administration of BB&S in January. However, m.d. Gavin George told The Bookseller: "I cannot confirm or deny that."