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June 28, 1996|Times Staff and Wire Reports

Barnes & Noble to Buy Stake in Canadian Bookstore: The New York-based company said it will purchase a 20% stake in Chapters Inc., the largest bookstore chain in Canada, from Canadian General Capital Ltd. Terms of the purchase were not disclosed. Barnes & Noble Inc., the largest book retailer in the United States, would get two seats on Chapters's nine-member board but would not have a hand in the company's day-to-day operations. Chapters, created last year by the merger of Smithbooks and Coles, operates more than 375 Chapters and World's Biggest Bookstore shops in Canada.

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