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Iranian government finalizes the cession of Alborz Insurance

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Magazine Issue: 
The masters of Africa [3]
Magazine date: 
Apr 2018

The Iranian government has finalized the sale of its shareholding in Alborz Insurance to a consortium made up of two pension funds and one investment company.

A total of 693.6 million shares have been ceded for the amount of 1 275 IRR (0.03 USD) a share, that is 17.14% of the company’s capital. The consortium, which previously detained a 33.93% stake in Alborz Insurance, now controls more than 51% of the insurer’s capital.

This pool is composed of “Civil Servants Pension Fund”, “the Agricultural, Rural and Nomadic Pension Fund” and “the Social Security Investment Company”.

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Mon, 07/05/2018 - 10:34

Source URL: https://www.atlas-mag.net/en/article/iranian-government-finalizes-the-cession-of-alborz-insurance

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