FRANKFURT, March 3 Egyptian billionaire Samih
Sawiris is taking a stake of 25 percent to 35 percent in FTI,
Germany's fourth-biggest tour operator, the two parties said on
"We aim for cooperation with an eye to the long run,"
Sawiris said in a statement.
FTI's founder and chief will keep a majority of shares in
the company, which competes with Europe's biggest travel firm
FTI, which has about 3,500 employees and posted sales of 2.1
billion euros ($2.9 billion) last year, said it had been agreed
not to say how much Sawiris was paying for the stake.
Sawiris, a member of Egypt's richest family, runs Orascom
Development Holding, operating tourist resorts and real
estate projects in Egypt and Europe.