Israeli billionaire Teddy Sagi, co-founder and controlling shareholder of Playtech, is selling 10% of Playtech shares through his Brickington Trading Limited. This was reported by the company in the London Stock Exchange (LSE).

Brickington Trading Limited will sell 10% of Playtech shares with market value of £2.94 billion. Cannacord Genuity is the lead bookrunner of the deal with Usb and Credit Suisse as co-bookrunners. When the sale is completed, Sagi’s stake in Playtech will fall from 33.6% to 23.6%.

The sale of Playtech shares allows Teddy Sagi to diversify his portfolio, which includes the Plus500, website and London’s famous Camden Market.

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