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Bill Gates And Other U.S. Investors Buy $1 Billion Stake In Egyptian Construction Firm - Forbes
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.
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 Egypts main benchmark index.
Orascom Construction Industries, SAE is Egypts largest publicly traded company and has an approximate market value of over $9 billion. Read OCIs Press release here.