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888 Co Founder Sells Off GBP 57 million of Shares
Thursday May 12,2016 : CO-FOUNDERS OF 888 SELL SHARES FOR GBP 57 MILLION
Ben-Yitzhak brothers reduce shareholding to almost 3 percent.
The Ben-Yitzhak brothers, Israelis who with the Shaked family co-founded the highly successful online gambling group 888, have sold off some of their shares for GBP 57 million, according to the Financial Times.
The sale was affected through Investec Securities at 205p a share and reduces the family trust's holding in 888 from 10.4 percent to under 3 percent, the newspaper reports. The sale leaves the Shaked family as principal shareholders with 48 percent of the equity.
Earlier this year an acquisition approach from William Hill plc foundered when the owners of 888 declined an offer of 200p a share for the company.
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