By Marcus Leach
Waterstone's books has conditionally been sold by owners HMV to A&NN Capital Fund Management for £53 million.
The fund behind the proposed sale is controlled by a trust which Russian billionaire Alexander Mamut has an interest in.
For the sale to be finalised it will need approval from shareholders, although HMV expect the deal to be complete by the end of June.
Alexander Mamut has been linked with a deal to buy Waterstone's for a number of weeks.