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orascom

February 20, 2015

Munjal patriarch sells €263 stake in Hero MotoCorp; Share prices at Bollore jump for second day; Orascom to list fertiliser and chemical division; and Heineken board looks to appoint family member

Munjal patriarch sells €263 stake in Hero MotoCorp

Brijmohan Lall Munjal, the chairman of Indian motorcycle manufacturer Hero Motocorp and Munjal family patriarch, has sold €263 million worth of shares in order to raise capital for new investments.

The 91-year-old sold nearly seven million shares in the company he co-founded, reducing his ownership stake to just over 36% from 39.9%. Analysts believe the chairman is looking to raise cash for investment in the power and real estate sectors.

June 5, 2014

Some of the biggest brands in the global hotel trade are family businesses, founded by dynasties that have mastered the art of giving a warm welcome. Here’s a handful of some of the best-known chains from across the world.

Some of the biggest brands in the global hotel trade are family businesses, founded by dynasties that have mastered the art of giving a warm welcome. Here’s a handful of some of the best-known chains from across the world.

May 27, 2014

Nassef Sawiris is considering relisting part of OCI, the Netherlands-listed construction and fertiliser company, on the Cairo stock exchange.

Nassef Sawiris is considering relisting part of OCI, the Netherlands-listed construction and fertiliser company, on the Cairo stock exchange.

Sawiris, who is chief executive of OCI, allegedly sent out a number of proposals to local and international banks to test the water for a potential sale, which according to unnamed individuals close to the entrepreneur, could be worth €220 million.

July 25, 2013

Major investment by the likes of big family business could help bring political stability to Egypt, according to a professor of political economy – as long as charges of cronyism are avoided.

Major investment by the likes of big family business could help bring political stability to Egypt as it grapples with a transitional military government following the ousting of the Muslim Brotherhood, according to a professor of political economy – as long as charges of cronyism are avoided.

This month second-gen head of Orascom Construction, Naguib Sawiris, announced he would be investing billions in his native country following the ousting of President Morsi and the Muslim Brotherhood, who were installed following the Arab Spring uprising of early 2011.

March 25, 2008

A member of Egypt’s wealthiest family is to move his hotel empire from Cairo to Altdorf, Switzerland in a move designed to increase the firm’s growth.

A member of Egypt’s wealthiest family is to move his hotel empire from Cairo to Altdorf, Switzerland in a move designed to increase the firm’s growth. Chairman Samih Sawiris said he plans to relocate Orascom Hotels and Development and list its shares on the Swiss stock exchange.

A new holding company, Orascom Development Holding, will launch a public share exchange offer of one new share for each 10 existing shares as of 30 March. The group said it has already received irrevocable undertakings of acceptance of the swap of around 76%, including from the Sawiris family.

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