Moshe Benedek, the Israeli businessman who was kidnapped in Brazil on Thursday, was released, the Foreign Ministry confirmed on Friday.
The businessman was released by his captors after local Brazilian authorities successfully geolocated his whereabouts.
Benedek, the owner of a number of jewelry and accessory factories and stores across the South American country, was held for ransom, reports claim.
He was last seen Thursday afternoon. Benedek was allowed to make contact with his family earlier on Friday, when he informed them of his kidnapping.
The businessman was kidnapped in São Paulo, the largest city in Brazil. The Foreign Ministry was negotiating his release earlier on Friday.
Benedek, a resident of the West Bank settlement of Yad Binyamin, is currently at a police station in Brazil, according to Nahal Sorek Regional Council head Shai Reichner.