VOL. XLVI

No 34

25-August-2003

IRAN

PRIVATIZATION

Iranian Bonyad Announces Plans To Privatize Some Subsidiaries

The Head of the Mostazafan and Janbazan Foundation (MJF) Mohammad Forouzandeh announced on 19 August that his foundation planned by March 2004 to privatize 64 of its subsidiaries with total capitalization of $75mn. Mr Forouzandeh added that the subsidiaries would be privatized via the Tehran Stock Exchange and not by tender or auction. The proceeds are to be used to implement development...