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)