Sagi sells 12% of Playtech shares

Israeli billionaire Teddy Sagi, the controlling shareholder of Playtech, has sold a 12 per cent stake in the company he founded for £329m.

Sagi had originally intended to sell 10 per cent but significant demand for the shares saw the volume increase to 38.7 million Playtech shares.

The deal leaves Sagi, who is reportedly intending to diversify his portfoilio, with a 21.6 per cent stake in Playtech, down from 33.6 per cent.

Source: Globes.co.il