Gaydamak to buy 45 percent of Israel's Willi Food

JERUSALEM, June 24 (Reuters) - Israeli food importer G. Willi-Food International Ltd. (WILC.O) said on Sunday it had agreed to sell a 44.99 percent stake to Israeli tycoon Arkady Gaydamak for $40.5 million.

Willi-Food (WLFD.TA) will sell 3.9 million shares at 43.85 shekels a share, the company said in a statement to the Tel Aviv Stock Exchange.

Willi's Tel Aviv traded shares were up 30.4 percent at 33.43 shekels in the morning in Tel Aviv.

Under the agreement, Willi-Food controlling shareholder Zvi Williger, who owns 38.54 percent of the company, would sell 30.54 percent, while his brother Joseph Williger would sell his entire 14.42 percent stake.

Willi-Foods has a market value of 232.7 million shekels.

The deal is subject to regulatory approval, and is expected to be completed by July 30.

The Russian-born Gaydamak, who made his fortune in activities ranging from banking to agriculture and mining, owns two top sports teams in Israel -- the Betar Jerusalem soccer club and basketball team Hapoel Jerusalem.