Waterstone's takeover given go-ahead by shareholders

Waterstone's takeover given go-ahead by shareholders

HMV Group shareholders have overwhelmingly approved the sale of Waterstone's to Alexander Mamut, clearing the way for the bookseller to become independent.

In a vote held today at its general meeting, 99.96% of shareholders approved Mamut's A&NN Group taking over the business for £53m. The transaction is expected to be formally completed on 28th June. James Daunt will now be installed as managing director and is expected to take up his new position on 2nd July.

Speaking to The Bookseller in May, Mamut said he plans to reposition Waterstone's as a regional and local community-oriented bookseller.