Russian-born Israeli billionaire Arkadi Gaydamak backed out Monday from his much-publicized deal to purchase the non-kosher Tiv Taam supermarket chain.

Gaydamak was set to purchase controlling shares in the firm at a price almost twice its value, but pulled out after his demand for a reduction of $10-15 million in the sale was rejected by one of the partners.

The deal made headlines when the business mogul announced he would transform the chain into kosher supermarkets, worrying workers at a non-kosher meat factory in which Tiv Taam owned 75 percent of the shares.