Egypt's wealthiest man Sawiris raises stake in Adidas, becomes largest investor

Ahram Online , Sunday 1 Nov 2015

Nassef Sawiris
Egypt's wealthiest man Nassef Sawiris (Photo: AP)

Egyptian business tycoon Nassef Sawiris has raised his stake in international sporting goods maker Adidas Adidas to 6 percent, becoming the largest investor in the German brand.

In a disclosure to the Stuttgart bourse, Adidas said that a Sawiris investment vehicle, NNS Holding now owns 4.3 percent in the German brand while Sawiris himself holds a direct 1.7 percent stake, Wall Street Journal reported on Friday.

Nassef Sawiris remains Egypt's richest person with a net worth of $6.7 billion, according to the 2014 Forbes list.

Sawiris runs Orascom Construction Industries (OCI), the Egyptian subsidiary of Dutch company OCI NV.


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