Iranian Investors - VC, Private Equity and Real Estate

Iranian investors of Entekhab Industrial Group have been named as the buyer for South Korea's Daewoo Electronics in a deal worth more than $540 million - The Reuters is reporting.

The financial terms of the deal were not disclosed, but local online news service eDaily said Entekhab offered slightly more than $540 million. It is the fourth attempt to sell Daewoo Electronics, once the flagship unit of the failed Daewoo Group and now almost wholly owned by its creditors. Daewoo sold off non-core assets and unprofitable businesses to focus on washing machines and refrigerators.

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More details from the Reuters follows

Iran Tourism Development Company sold the former 5-star 370 rooms InterContinential Hotel in Tehran (plus three of its other smaller hotels and complexes) to an unnamed Iranian investor through a tender process for $130 million.

The base price for Laleh Hotels (the new name of InterContinential Hotels after Iranian revolution) has been $95 million and had been advertised on Iranian English papers (PDF), their website, as well as other sources like MEED. It was open for foreign bids as well.

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