SIDON, Lebanon: A businessman was snatched in south Lebanon overnight and held for ransom, security sources said Wednesday.

The sources said a four-wheel drive vehicle belonging to businessman Najib Youssef was found abandoned off a road in Abu Aswad, north of the Litani River, late Tuesday evening.

They said Youssef, 65, who hails from the southern town of Bourj al-Shemali, owns several franchises in addition to various plots of land in the Tyre region.

The kidnappers later contacted his family and demanded a ransom of $3 million, the sources, who spoke on condition of anonymity, added.

Kidnapping-for-ransom has increased in Lebanon in recent months.

On Monday, gunmen kidnapped Ahmad Diab Abu Hasan as he was parking his Mercedes-Benz in front of his business in the town of Jlala near Chtaura, east Lebanon.

His abduction came less than a week after Lebanese business owner Fadi Mitri was kidnapped in the Metn town of Mansourieh.

Mitri was released over the weekend after a $75,000 ransom was paid.