A PRIVATE company owned by a major shareholder of Emperor International Holdings has bought 24.8 per cent of Righteous (Holdings) for $48.4 million, simultaneously making a general offer for all outstanding Righteous shares. Goldbells Enterprises, wholly owned by Albert Yeung Sau-shing, has bought 96 million Righteous shares at 50 cents each. The vendor was Eversmile Co, a private company owned by Righteous directors Peggy Cheng Pui-kit and Wong Chai-kit. Goldbells has made a general offer for all outstanding Righteous shares at the same price. The buyer is also making a voluntary cash offer for all outstanding Righteous warrants at $12 per 12,000 units. ''Goldbells intends to expand and operate the Righteous group's existing business including investment holding, retailing, real estate investment and development,'' said a statement issued by Emperor last night. However, Goldbells emphasised it did not intend to introduce changes to Righteous' business or to inject new business into Righteous. ''It is the intention of Goldbells that the company should remain a public company,'' said the statement. Goldbells would also ensure that not less than 25 per cent of the issued share capital and warrants would be held by the public, the statement added.