Sawiris looks to sell Weather stake to repay debt
Egyptian billionaire Naguib Sawiris said on Sunday he was looking to sell 10 per cent of Italian holding company Weather Investments to a private equity firm to repay debt.
By Agencies |
EGYPT: Egyptian billionaire Naguib Sawiris said on Sunday he was looking to sell 10 per cent of Italian holding company Weather Investments to a private equity firm to repay debt.
Enel sold Italian mobile operator Wind to Sawiris in a 2006 deal that was worth more than 12 billion euros ($18.57 billion) including debt. At the time, it was one of Europe's biggest leveraged buyouts.
"(The sale would be) to a private equity company to repay Enel debt," Sawiris told Reuters, declining to name the firm. Sawiris owes Enel 1 billion euros by June 13, the media reported.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
