Nick Scali managing director sells half his 27pc stake to Chinese supplier
Sue MitchellColumnist
Updated
Nick Scali managing director Anthony Scali has sold half of his 27 per cent stake for $77.3 million to one of his Chinese suppliers, a move that suggests the days of Scali family control are numbered.
Mr Scali has agreed to sell 11.04 million of his 22.1 million shares to Jason Furniture (Hangzhou) Co Ltd (known as KUKA) for about $7 a share, slashing his stake from 27.2 per cent to 13.6 per cent.
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