December 02, 2016

Tedi Sagi sells 10% stake in Playtech

Tedi Sagi the founder of Playtech has decided to sell 10% of his stake in the company reducing it down to 23.6%, in a filing to the London Stock Exchange (LSE), Playtech announced the news that the billionaire is selling a third of his shares in the technology giant.

On completion of the sale it is estimated Sagi will receive £294 million for his 10% sale on the company that is currently valued at £2.94 billion. In the announcement Playtech said that following the sale Sagi and his investment vehicle he uses for the shares, Brickington Trading Limited will not sell any further shares for at least another 180 days.

The understanding for the sale is for Sagi to invest in other non-related sectors, the self made billionaire has diversified over the years and holds some 34 properties in Camden London with 465,000 square feet of space along with owning the famous Camden Market.

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