Bill Gates And Other U.S. Investors Buy $1 Billion Stake In Egyptian Construction Firm

America’s richest man, Bill Gates, is part of a group
of international investors acquiring a stake in OCI
NV, an Egyptian construction and fertilizer
company.
On Friday, OCI N.V, a wholly-owned subsidiary of
Orascom Construction Industries SAE (OCI)
controlled by Egyptian billionaire Nassef
Sawiris, announced that it has raised $2 billion in
commitments from international investors,
including $1 billion from three U.S. groups: Cascade
Investment, L.L.C – the private investment vehicle
of Bill Gates; Southeastern Asset Management and
Davis Selected Advisers.
OCI N.V has launched a share exchange offer which
will see the company acquiring all of Orascom
Construction Industries’ Regulation S Global
depositary receipts (GDRs) in exchange for shares
in OCI N.V. The deal also includes a mandatory
tender offer whereby holders of OCI GDRs will have
the option of either exchanging their shares with an
identical amount of OCI NV shares or selling their
shares to OCI NV at the price of 280 Egyptian
pounds ($43) per OCI share in compliance with
Egyptian regulations. The capital injection from Bill
Gates’ holding company and other investors is
primarily expected to provide OCI NV with the funds
required to pay shareholders who elect to tender
their OCI ordinary shares for cash.
The Sawiris family and Abraaj Capital, which
together own 60 percent of Orascom, are also
participating in the tender and have submitted all
their OCI GDRs to exchange for OCI N.V shares.
This is arguably the first time Bill Gates’ Cascade
Investments is investing a sizable amount in an
African company. Analysts expect the deal to boost
international investor confidence in Egypt’s main
benchmark index.
Nassef Sawiris, the Chief Executive Officer (CEO) of
OCI, commenting on the transaction said, “This
transaction is proof of the existing international
appetite to invest in Egypt and bodes well for the
Egyptian economy with more than US$ 1 billion
committed by US investors.”
Orascom Construction Industries, SAE is Egypt’s
largest publicly traded company and has an
approximate market value of over $9 billion.

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3 thoughts on “Bill Gates And Other U.S. Investors Buy $1 Billion Stake In Egyptian Construction Firm

  1. look up at the skies (google chemtrails) fake clouds blocking the sunlight… also america and england put chemicals in tap water and food to dumb down population… this is fact…. sorry to burst your bubble.. please research everything said

  2. I was curious if you ever thought of changing the structure of your website? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having 1 or 2 pictures. Maybe you could space it out better?

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