German real estate company Adler said on Monday it has acquired the entirety of the shares in MountainPeak Trading Limited, a holding company owned by billionaire Teddy Sagi, for 285 million euros ($316 million.)
MountainPeak holds 24.79 percent in conwert Immobilien Invest SE, Vienna, one of the leading real estate companies with participation in both residential and commercial property portfolios in Austria and in Germany.
The Israeli entrepreneur Sagi had acquired the stake and became the company’s biggest shareholder in May.
The Vienna-based company owner of about 27, 000 homes in Austria and Germany reported losses for two of the past three years as property-sale proceeds slumped and financing costs rose. Adler’s decision to issue the convertible bonds is subject to approval of its shareholders, Bloomberg report.
Conwert was up 2.4 percent in Vienna trading at 11.31 euros as of 4:10 p.m. Adler gained 2.3 percent to 14.34 euros.
Playtech has confirmed the launch
of its first omni-channel HTML5
front-end solution with Ladbrokes.
Designed to boost sportsbook performance
and optimisation capabilities, the new
Playtech Sports HTML5 solution More…
Teddy Sagi’s Market Tech Holdings
(AIM: MKT), the owner of London’s
Camden Market, has raised $311 million
(£200 million) on London’s AIM. Sagi’s
company has raised $642 million in
Playtech Cyprus Ltd. (LSE:PTEC),
controlled by Teddy Sagi, announced
that its subsidiary TradeFX will buy
Israeli company Ava Trade for $105 million.
Founded in 2006 by CEO Emanuel Kronitz
and CMO Negev Nosatzki , More…
Teddy Sagi’s SafeCharge International
(LSE: SCH), a global provider of payment
services for online and mobile businesses
since 2007, has won two prestigious awards
for the categories Payments More…
Israeli billionaire Teddy Sagi‘s Playtech
Plc acquires retail forex trading company
Plus500 for about $670 million, in cash,
a price way below its $1.31 billion pre-crisis
value. Israel-based but London-listed More…
Media reports have revealed that Israeli
billionaire Teddy Sagi‘s Playtech has bought
the currency trading platform AvaTrade,
this according to a source with knowledge
of the deal. According to Reuters, the More…