ITALY - Apax et al. seek Weather Investments capital increase

The firm, owned by Sawiris, said the capital increase would be carried out by main shareholders including the Sawiris family and its three private equity backers. The fresh cash would be used to pay down debt held by Weather Capital SP1, which is one of two units holding the regional Arab mobile Orascom stake.

The move would bring the total debt reduction at Weather since June to $1.47bn.

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