Naguib Sawiris’ investment company Weather II has raised a US$600m loan from Bank of America, Citigroup, Credit Suisse and Goldman Sachs, Bloomberg reports quoting Weather II documents.
The Egyptian businessman has reportedly placed 4.23% of his…
Naguib Sawiris’ investment company Weather II has raised a US$600m loan from Bank of America, Citigroup, Credit Suisse and Goldman Sachs, Bloomberg reports quoting Weather II documents.
The Egyptian businessman has reportedly placed 4.23% of his 18.782% shareholding in VimpelCom Ltd as guarantee for the loan.
No purpose for the proceeds was revealed.
Sawiris has recently been reported to be looking at teaming up with Austrian investor Ronny Pecik to possibly launch a hostile bid over Telekom Austria.
Sawiris’ Weather did not reply to request for comments before press time.
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