Billionaire Sawiris Boosts Private-Jet Bet Amid Takeover Battle
Nassef Sawiris
Photographer: Stephen Yang/Bloomberg
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Egyptian billionaire Nassef Sawiris increased his bet on the private jet industry, accumulating additional shares in Signature Aviation Plc amid a takeover battle for the company.
NNS, the investment vehicle of Sawiris, bought 2.14 million shares of London-listed Signature Aviation at 405.36 pence ($5.47) apiece on Jan. 8, according to a regulatory filing on Monday. The purchase brought NNS’s stake up to 7.41% of the company, from 7.16%.