Az­imut the First For­eign Fund to Op­er­ate in Iran

Iran News - - FRONT PAGE -

ROME (Dis­patches) - An Ital­ian as­set man­ager has pur­chased stakes in an Ira­nian fi­nan­cial com­pany thus be­com­ing the first for­eign fund house to in­vest in the na­tion’s fi­nan­cial sec­tor.

The Fi­nan­cial Times re­ported that Az­imut, a €48-bil­lion group head­quar­tered in Mi­lan, had ac­quired 20 per­cent of Mofid En­tekhab, an Ira­nian as­set man­ager, for an undis­closed sum.

“We were look­ing for an op­por­tu­nity to in­vest in a very in­ter­est­ing market. Iran is a great story,” it quoted Ser­gio Al­barelli, chief ex­ec­u­tive of Az­imut, as say­ing.

Az­imut said it and Mofid En­tekhab had en­sured that the part­ner­ship would be com­pli­ant with eco­nomic sanc­tions re­quire­ments.

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