BCP (>> Brack Capital Properties NV), 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 capitalisation of 2.53 billion shekels.

Sagi, who founded online gaming software supplier Playtech (>> Playtech PLC), 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 (>> Market Tech Holdings Ltd).

(Reporting by Ari Rabinovitch, Editing by Tova Cohen and Susan Fenton)