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.