Hachette Livre increases stake in Azbooka-Atticus

Hachette Livre has announced an increased stake in the capital of Russian publisher Azbooka-Atticus, rising from a 25% holding to 49%.

The latest move "reflects the successful cooperation between the two companies since Hachette Livre became a shareholder in March 2011, the vibrancy of the Russian book market, and the fine performance of Azbooka-Atticus under its new management," the publisher said.

The other shareholder is Alexander Mamut's A&NN Group.

Azbooka-Atticus is the third largest publishing house in Russia with sales exceeding $50m, publishing 2,000 titles a year across fiction, non-fiction and children's. Authors published by Azbooka-Atticus include J K Rowling,  Alice Munro, Malala Yousafzai, Peter Ackroyd and Anthony Beevor.  

Hachette Livre first became a shareholder of the company in March 2011.