RIGHTEOUS Holdings is to sell its 51 per cent stake in Saatchi Holdings to Chen Chee-shing's Tat Sun China for $9 million. The deal is a connected transaction because Mr Chen is a board member of Saatchi. If the transaction is approved by shareholders, it will give Mr Chen a 100 per cent stake in the leather-goods maker. Righteous, which has lent $80 million to Saatchi, aid it had decided to sell its stake to reduce the level of group borrowings. As part of the deal the loan to Saatchi will be repaid before completion of the sale.