Naguib Sawiris to launch new gold investment vehicle

Egyptian billionaire Naguib Sawiris is set to launch a new investment vehicle to acquire gold mining assets across the world, expanding on the $1.5bn assets he owns in the sector. The company, which will be under Mr Sawiris’s La Mancha Group, will be headed by Andrew Wray, the outgoing chief financial officer of London-listed Acacia Mining, according to three people familiar with the plan. Mr Wray takes up the role in January, they said.

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