Acer Cuts Winstron Stake
Right in the wake of Acer’s recent withdrawal from BenQ’s board is a reduction in its shareholdings in Winstron Corp. - a company formed in 2001 from Acer’s design and manufacturing service unit.
As part of Acer’s efforts to increase its focus on its core business, i.e. IT products, Acer sold $128 million worth of Winstron Global Depositary Receipts (1 GDR = 10 common shares) at $12.76 each. As a result of the transaction, Acer retains only a 16.2% stake in Winstron.
[News via FinanceAsia.com]
