Playtech Cyprus Ltd. (AIM:PTEC) controlling shareholder Teddy Sagi has bought a London apartment for £26 million, according to British real estate portal "Homes and Property"
According to "Homes and Property", Sagi bought the luxury four-bedroom Knightsbridge flat, overlooking Hyde Park.
Sagi's fortune is estimated at $1.5 billion, mostly in Playtech stock. "Homes and Property" quotes an insider as saying that he paid a record price of £4,500 a square foot for the apartment. The previous owner bought the apartment for £13 million in 2005.
Sagi also owns an apartment in the Akirov Towers in Tel Aviv, and reportedly owns other properties in the UK and Cyprus.
Playtech, a developer of online gaming software, is one of the most successful Israeli companies on London’s Alternative Investment Market (AIM), with a current market cap of $1.5 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on November 15, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009