Cairo – Mubasher: Melinda French Gates has acquired a 5.6% stake in the ordinary issued share capital of Orascom Construction Plc from Cascade Investment, owned by Bill Gates.

Through this transfer, Melinda French Gates directly owns 6.524 million shares in Orascom Construction, and Cascade Investment no longer holds any of the ordinary issued share capital in the company, according to a recent bourse filing.

Melinda French Gates also has an indirect interest of 263,408 shares, representing 0.2% of Orascom Construction's capital, held by Bill & Melinda Gates Foundation Trust, in which Melinda French Gates is a Co-Trustee.

The company announced that the acquisition of these shares does not have an associated price.

It is noteworthy to mention that in the first quarter (Q1) of 2021, the net profits attributable to the owners of Orascom Construction decreased by 4.4% to $23.9 million from $25 million in the year-ago period.