Playtech buying assets from founder
Wednesday 18 April 2012
The founder and largest shareholder of the online gaming technology company Playtech is selling a series of businesses and a property to the group in deals totalling almost £90m.
Teddy Sagi, the billionaire Israeli businessman, owns 48 per cent of Playtech. The deals, which include social gaming products and an office block in London's Camden, will require approval from at least half of shareholders other than Mr Sagi.
Shares in Playtech, one of the biggest companies on the Aim market, ended down 3 per cent at 339.75p, after falling nearly 10 per cent in early trade.
Simon McGrotty, an analyst at Davy Research, said: "Where concerns will be raised is that once again Playtech is acquiring assets from its founder and largest shareholder."
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