According to Pardis Petrochemical Company, the acquisition took place
on Wednesday (March 12), making it the largest stock market deal of the year.
Pardis Petrochemical Company, a key subsidiary of Parsian Oil & Gas
Holding, secured 2.2% of the stake, the largest share among the four firms.
Abdolrahim Ghanbarian, CEO of Pardis Petrochemical Company, stated
that the bold move by Parsian Holding facilitated the settlement of a
significant portion of its outstanding claims from the government. He added
that this transaction has strengthened Pardis Petrochemical’s position among
PGPIC’s key shareholders and within the broader petrochemical industry and
capital market.
The total value of the transferred shares is estimated at 620 trillion
rials ($1.2 billion).
Pardis Petrochemical, the Middle East’s largest ammonia and urea
producer and a major global player, views this strategic acquisition as a
crucial step in securing its foothold in the industry amid ongoing economic
challenges and sanctions.