TCI block share sale amount paid before deadline: TCI buyer

“Tose’eh Etemad Mobin Consortium, as TCI block share buyer, will try to pay the sum by the end of this week or next Monday,” Mohammad-Reza Modares Khiabani told Mobna news agency.
“The amount is huge, but the consortium will pay it before the deadline and after that the future payments will be through underwriters,” he said.
“The consortium has negotiated with some domestic and foreign companies and it seeks cooperation from others,” he added.
“Some companies will announce their readiness to cooperate after the 20% payment has been made,” Shahriar Mahestan managing director said.
“Some foreign companies have announced their tendency to cooperate with TCI new owners which are being reviewed,” he added.
TCI block share trade was worth $8b which was the biggest trade in Iran bourse history.
80% of TCI’s sale amount has to be paid in 6 installments by the consortium comprising of Tose’eh Etemad, Shahriar Mahestan and Gostaresh Electronic Mobin Iran companies.
TCI block share buyer’s deadline to pay the 20% amount is Nov 9.
113/19