M&A WATCH- Has Sawiris just bought a controlling stake in FC Masr? Sports investment company Zed has reached an agreement to acquire a majority stake in FC Masr football club, Hapi Journal said yesterday, without sourcing its claims. Earlier in the day chairman Onsi Naguib Sawiris said that the company will be purchasing a majority stake in an undisclosed club, without providing further details. The company is also considering setting up local branches of Borussia Dortmund’s academy and ATP Tennis, he said.

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