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Screenshot of a breaking news alert e-mail from Q2 2017
Israeli business daily “Globes” is reporting that Israeli billionaire Teddy Sagi has bought another part of Camden Markets in London for an estimated £70-90 million. In March, Sagi bought Camden Stables Market for £400 million. The London market is made up of six sections and now Sagi owns the two largest sections of Camden Market, also collectively known as Camden Lock Market.
Sagi is purchasing the market from the Fulford family’s Brockton Capital Fund, which has owned the market for the past 40 years.
Sagi will now own land covering 12.5 acres. The market he has now bought covers 1.25 acres and includes about 300 traders in 50 stores, 20 galleries and five food halls.
Sagi said, “We are happy to buy Camden Lock that was a missing part of the puzzle on the way to creating a global brand. The purchase allows us to move forward more swiftly with developing the real estate and the unique electronic commerce that we are preparing and will make the huge potential of the place stronger.”
The total value of the project after its completion is expected to reach £1.7 billion.
Sagi owns Safecap Investments Limited, a big operator in retail FX trading, including Markets.com and various other brands. Also controlling shareholder in internet gambling platform developer Playtech Cyprus Ltd. (LSE:PTEC), Sagi has been highly active in London over the past year with two IPOs in London – SafeCharge International Group plc (AIM: SAFE), which provides online payment, clearing and anti-fraud solutions, and most recently Crossrider Ltd. (AIM:CROS), which optimizes Internet surfing traffic as an analytical tool.
To check out the orignal “Globes” article, click here.