Egypt’s Sawiris to invest $300 mln into Italy

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Egyptian billionaire Naguib  Sawiris said that he seeks to invest $300 million in Italy during the upcoming period as its government mulls selling state-owned properties.

He said that “The government sits on one of the most lucrative real-estate assets in the world.”

He said on that he also sees opportunities in Africa through consume funding activities. He seeks also to pump investments in other Latin American countries, including Brazil and Argentina.

But even for someone with a proven appetite for risky assets, Sawiris said Brexit has put him off investing in the U.K. “Brexit is a disaster,” he said. “Europe is a big mess.”

In addition, Egyptian billionaire Naguib Sawiris said he would invest in Venezuela “anytime” after embattled President Nicolas Maduro leaves office.

Sawiris owns stakes in gold mines through his closely held company, La Mancha Resources. He told Bloomberg last year that he had invested half of his net worth in gold. “I am continuing to invest in gold,” he said.