Deals
Iran’s Esfahan Steel Seeks Buyers Amid Plan to Boost Production
- Privatization office, pension fund seeking to sell 73% stake
- Steel production expected to jump 33% in year to next March
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Esfahan Steel Co., Iran’s third-largest maker of the metal, is seeking buyers amid plans to boost production as the nation rebuilds after years of international sanctions that hurt its economy.
Companies in South Korea and Luxembourg are interested in taking a stake, Masoud Gholampour, research and and marketing manager at Novin Investment Bank, said in an interview in Tehran. Novin is advising the government in the sale. Iran and the Steel Pensioners’ Fund for retired Iranian steel workers want to sell a 73 percent stake.