WH Smith is poised to sell its Waterstone’s book chain for about£300m to a joint venture between EMI and Advent International.
The deal will result in the creation of a new retailing groupincluding Waterstone’s and the EMI-owned Dillons bookstores and HMVrecord shops. HMV has about 330 outlets and Waterstone’s has 120stores.
WH Smith has also put its Virgin/Our Price music chain and The Wall,its US music business, up for sale in order to concentrate on its core400 stores.
- The Times 23/02/98 page 45
- The Daily Telegraph 23/02/98 page 25, page 26 (The City Checklist)
