Sawiris Spends $10 Million on LafargeHolcim in Rebound Bet
- Egyptian billionaire buys shares he says are undervalued
- Sawiris says he's 'strong believer' in merger of companies
This article is for subscribers only.
Egyptian billionaire Nassef Sawiris, the third-biggest shareholder of LafargeHolcim Ltd., purchased more than 10 million Swiss francs ($10.3 million) in stock, in a bet that shares in the world’s biggest cement maker will recover.
Sawiris, through his investment vehicle NNS Holding, acquired the shares on March 18 and 21, he said in a telephone interview Wednesday and Swiss regulatory filings.