Teddy Sagi offloads 12% of Playtech stock

Brickington Trading Limited, the largest shareholder in Playtech, has sold 12% of its stake in the company.

Owned by Playtech co-founder Teddy Sagi, Brickington offloaded 38.7 million ordinary shares at a price of 850 pence (999 €cents/1060 $cents) each.

In a statement confirming the deal, Playtech said it expects the placing to settle on Friday this week, adding that it is not party to the placing and that it will not receive any proceeds from the transaction.

Brickington, which will retain a stake of approximately 21.6% in the company, has agreed not to sell any further shares in Playtech for a period of 180 days.

The placing was conducted via an accelerated book build through UBS Limited, Canaccord Genuity Limited and Credit Suisse Securities (Europe) Limited.

Meanwhile, Playtech has completed the acquisition of a 70% stake in technology company Consolidated Financial Holdings.

Playtech said it expects to acquire the remaining 30% in 2019, pursuant to put and call option arrangements.

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