HMV sells Mama for £7.3 million
Sold for £7.3 million to Juno Newco Limited, a wholly owned subsidiary of Lloyds Development Capital Limited, the sale includes a separately held interest in 50% of the Mean Fiddler Group.
The sale of Mama does not include the sale of G-A-Y Group Limited and Heaven (London), which will be the subject of a separate transaction, discussions for which are ongoing.
HMV said £3.5m of the sum agreed for Mama Group would be deferred for 12 months. The proceeds of sale will be used to reduce the company's debt.
"This sale is a further step in the disposal of the HMV Live Business and follows the disposal earlier this year of the Hammersmith Apollo," the retailer added.
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