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Egyptian billionaire acquires stake in Adidas

The German sporting goods group has announced that an Egyptian investor, Nassef Sawiris, has acquired a 6 percent stake in the Three Stripes. Sawiris’ own company NNS Holding has bought 1.74 percent of Adidas, while the rest is controlled indirectly.

According to Dow Jones News, the billionaire from Egypt is not necessarily just a silent investor. In 2006, he bought shares in Texas Instruments and called publicly for the company to be sold.

He originally made his money in the construction industry, but sold his group to French competitor Lafarge for €9 billion back in 2007. Since then, Sawiris has been a major shareholder of Lafarge.

 

 

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