HMV Group Plc, the U.K.’s biggest DVD and music retailer, agreed to sell its Waterstone’s book chain to billionaire Alexander Mamut for 53 million pounds ($86 million) as it seeks to cut rising debt and stave off lenders.
HMV Group Plc , the music and DVD retailer that owns Waterstone’s bookstores, rose as much as 4.9 percent in London trading after Russian billionaire Alexander Mamut increased his stake to more than 3 percent.
Russian billionaire Alexander Mamut plans to open 50 toy stores in Germany by 2014 after receiving a franchise from Spanish retailer Imaginarium SA, Kommersant reported citing his business partner Evgeny Butman.
Billionaire Mikhail Prokhorov’s Onexim Holdings Ltd. agreed to sell his stake in Polyus Gold International Ltd. to investors as he diversifies away from commodities, said three people with knowledge of the plan.
HMV Plc may complete the sale of its Waterstone’s bookstore chain to Russian billionaire Alexander Mamut for 35 million pounds ($58 million) this week, the Sunday Times reported, without saying where it got the information.