CAIRO: Egypt's Naguib Sawiris told United Arab Emirates newspaper The National that he had made a bid of $500 million to buy Canada's gold mining company La Mancha Resources. The billionaire confirmed to the newspaper that the bid had been processed, but gave no further details as the transaction was still pending. Businessman turned politician Sawiris looks to return to business dealings after losing much support in the country over his political meanderings. He also owns a number of media companies in Egypt, including ONTV and part of al-Masry al-Youm newsaper Sawiris was reported by The National to be wanting to extend his presence and “geographically diverse portfolio of assets offering exposure to growth.” The same newspaper said the company had accepted Sawiris' offer of 3.50 Canadian dollars per share in the deal. Forbes Magazine listed Sawiris as the second wealthiest person in Egypt, with a total estimated worth of $3.1 billion.