Iran's government has sold an 18 per cent stake in Iran Khodro, the Middle East's biggest carmaker, for the equivalent of about $430 million, said a senior Tehran Stock Exchange official.
The offering by Privatisation Organisation
Iran has replaced the head of partly state-owned Iran Khodro, the Middle East's largest car maker which has a joint venture with France's Renault, Iranian media reported on Tuesday.
The reports carried by several newspapers did not
Chery Automobile Co, a mid-sized but fast-growing Chinese car maker, has agreed to set up a $370 million assembly plant in Iran with two foreign partners, targeting Iran and neighbouring markets.
Chery will hold 30 per cent in the venture,