On Saturday, June 28, a 30.5 percent stake in Iran's largest billet producer Khuzestan Steel was successfully sold to a private investor through the Tehran Stock Exchange for a total consideration of $1.458 million.
According to the arrangement, 20 percent of the amount will be paid in 30 days' time while the remaining 80 percent will be paid over the next five years.
The stake in question has been bought by local steel trader and broker, Mr. Mohammad Jaberian. However, according to a market rumor, the stake has been bought by Mr. Jaberian on behalf of another private investor who prefers to remain unnamed for the time being.