Esfahan Steel Company's major shareholder is planning to sell its stake in the veteran Iranian steelmaker and potential domestic and foreign buyers have already lined up, the managing director of majority stakeholder Social Security Investment Company said.
Rumors had it this week that the block shares' main buyers were two domestic firms as well as an Indian company.
Morteza Lotfi, the head of SSIC, verified the rumors late last week...
June 10, 2018 18:09
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Indian, Iranian Companies Line Up to Buy ESCO Majority Stake
Social Security Organization’s financial obligations as well as the heavy burden of underperforming assets on its investment arm and ESCO’s majority stakeholder, SSIC, have prompted the SSO subsidiary to try lightening its portfolio by about $2.85 billion
SSIC controls a 55.99% stake in ESCO, which is listed on Iran Fara Bourse’s second market with a total of 22.27 trillion rials ($530.3 million) in market capitalization
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