International edition
September 19, 2020

Israeli billionaire no longer largest shareholder

Teddy Sagi cuts Playtech stake to fund real-estate investment

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.
United Kingdom | 06/28/2017

The billionaire investor has sold his majority holding to fund his move into real-estate investment.

S

agi 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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