Semi-Tech sells 25pc of Sansui

Semi-Tech (Global) Co is to sell its 61 million shares in Sansui Electric Co to its 65 per cent-owned, Japanese-listed subsidiary Akai Electric Co for $256.2 million. The 61 million shares represent 25.4 per cent of the total issued shares capital of Sansui. After the disposal, Akai's stake will rise to 42 per cent from 16.6 per cent, becoming the largest shareholder.