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Brack Capital trade halted in Tel Aviv amid reports of Sagi buyout
May 23, 2017 / 9:47 AM / 7 months ago

Brack Capital trade halted in Tel Aviv amid reports of Sagi buyout

JERUSALEM, May 23 (Reuters) - The Tel Aviv Stock Exchange on Tuesday halted trade in Brack Capital Properties (BCP) ahead of an announcement of a “significant event”.

Earlier on Tuesday Israeli media reported that billionaire Teddy Sagi was planning on buying a controlling 44 percent stake in BCP, which owns and develops properties in Germany, for 1.1 billion shekels ($307 million).

He would pay 345 shekels per share compared with 365 shekels it was at before trade was halted.

BCP has a market capitalization of 2.53 billion shekels. ($1 = 3.5838 shekels) (Reporting by Ari Rabinovitch, Editing by Tova Cohen)

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