Deceased and Former 888 Co-Founder Aharon Shaked Heirs Sell 40 Million Shares
The media is calling the 40 million shares that were sold by late 888 co-founder Aharon Shaked’ heirs “unusual activity”. The sale of the shares represents half of Aharon Shaked’s shareholding in the company. As of now, the family holds 12.9% with Avi and Aaron Shaked brothers owning 34% of the company.
The sale of the shares was sold at the end of May this year. They sold for GBP 2.70 each or GBP 108 million for the 40 million total shares. Reports are confirming that this is the one year anniversary when the family of Ben Yitzhak did the same thing. According to reports, the sale of the shares between the two families is related. The two families founded 888 with the Ben-Yitzhak family owning 23% stake.
Aharon Shaked passed away back in 2010 leaving all of his assets to his wife Haya and two children. The share price surged in value, but according to reports, this is not the reason why the shares were sold. The confrontations between family members are the sole reason why negotiations failed for the purchase of William Hill back in 2014 leaving strong evidence for the family to sell off its part of the shares.