(Recasts with company statement)
JERUSALEM, May 23 (Reuters) - Israeli billionaire Teddy Sagi has agreed to buy a controlling stake in Brack Capital Properties (BCP), a property owner and developer in Germany, for about 1 billion shekels ($279 million), the company said on Tuesday.
BCP, which is listed on the Tel Aviv Stock Exchange, said in a statement that Sagi agreed to buy a controlling 44 percent stake, or about 2.9 million shares, for 345 shekels a share.
The shares had been trading at 365 shekels when trade was halted prior to the announcement. BCP has a market capitalization of 2.53 billion shekels.
Sagi, who founded online gaming software supplier Playtech , has been building up his real estate portfolio, which includes prime real estate in London such as Camden Market, which he holds through Market Tech Holdings.
$1 = 3.5851 shekels Reporting by Ari Rabinovitch, Editing by Tova Cohen and Susan Fenton