Economy, Business And Markets

Ansar Bank Sells Subsidiary

Ansar Bank Sells SubsidiaryAnsar Bank Sells Subsidiary

Ansar Bank sold its investment subsidiary on Monday. Over 1.33 billion shares of Danayan Pars Investment Company were sold to Sadr Arain and Ab-Khak-Sakht investment company. Ansar and its various subsidiaries jointly held 98.8% of Danayan Pars’s shares, Bourse Press news website reported. “Ansar’s earnings per share will see a 10% boost from the sale,” chief executive Ayatollah Ebrahimi said in a statement. Ansar was asking 2,000 rials for each Danayan Pars share and got 2,040 for each share, bringing the deal’s total value to 2.72 trillion rials ($93.3 million at official exchange rate). The two buyers paid 19% of the deal’s value upfront. The rest will be paid in installments. Pars Gostar Khobreh brokerage handled the sale.