British retailer Alba Plc said on Tuesday it had sold its 50% stake in consumer electronics firm Grundig Multimedia for 25 million pounds (approx. US$50.3 million).
The shares will be purchased by Beko Electronik BEKO.IS, which will become 100% owner of Grundig Multimedia.
But Alba will retain the UK licence to the Grundig name for three years. (Reuters)