Israeli billionaire no longer largest shareholder
Teddy Sagi cuts Playtech stake to fund real-estate investment
The billionaire investor has sold his majority holding to fund his move into real-estate investment.
2017-06-28
Reading time 23 seg
The billionaire investor has sold his majority holding to fund his move into real-estate investment.
Sagi announced plans to raise almost £340m through the sale of 11.5 percent of the firm that he founded in 1999. The sale price of £9.24 per share represents a 7 percent discount on Monday’s closing price.
The Israeli investor began selling down his stake in Playtech last November. The latest sale will leave him with only a 6.3 percent stake in the company, meaning he will no longer be the company's largest shareholder.
Shares in Playtech were down 2.6 percent in afternoon trading, to £9.67.
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