German sporting goods group, Adidas, has confirmed that an Egyptian investor, Nassef Sawiris, has acquired a 6% stake in the company. According to reports, Sawiris’ own company NNS Holding has bought 1.74% of Adidas shares, while the rest is controlled indirectly.
A number of media reports have indicated that the billionaire from Egypt is not necessarily just a silent investor. In 2006, he bought shares in Texas Instruments and called publicly for the company to be sold. The Wall Street Journal also noted that the 6% stake held by NNS Holding has reignited speculation that Adidas has become the target of activist investors.
Sawiris originally made his money in the construction industry, but sold his group to French competitor Lafarge for €9 billion in 2007. Since then, Sawiris has been a major shareholder of Lafarge.
As of 2015 Nassef Sawiris had an estimated net worth of US$5.9 billion, making him, according to Forbes, the 240th richest person in the world.
