Egyptian investor sets up Swiss holding company
Egyptian billionaire Samih Sawiris, the man behind the ambitious Andermatt tourism project, has created a holding company in Switzerland.
OD Holding, located in Altdorf in central Switzerland, will be the new headquarters of the family business Orascom Group, headed by Sawiris.
The new OD Holding will launch a public share swap at the end of March. All existing shareholders in the business will be offered one new OD Holding share for every ten shares they currently hold.
OD Holding will subsequently be quoted on the Swiss Exchange.
The hotel division of the Orascom Group runs resorts spread across North Africa and the Middle East and has several more under construction.
According to Orascom, the Andermatt resort will boast five hotels with 800 rooms, 100 villas and 600 apartments. It will attract tourists with high-altitude skiing, an 18-hole golf course, tropical pool and spectacular alpine scenery.
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.