Business And Markets

Iran Mall Deal Rejected

Iran Mall Deal Rejected
Iran Mall Deal Rejected

The Central Bank of Iran Tuesday said it had rejected a deal between Ayandeh Bank and Hami Sazeh Kian Company over divesting 35% shares in the giant Iran Mall Complex, a $3.5-billion shopping and entertainment megaproject in northwest Tehran, wholly funded by Ayandeh. 
According to a CBI press release, the deal was unacceptable because it failed to “uphold regulatory obligations for selling excess assets of financial institutions, and the process of selling the shares was not clear.” No further details were available. 
The CBI has instructed the private lender to cancel the rare deal. Ayandeh on Monday said it had “sold 35% shares of Iran Mall International Development Company to Hami Kian Sazeh Company through an auction.”


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