Azimut Group

According to the Financial Times, Azimut “has become the first foreign investment group to buy a stake in an Iranian financial company [Mofid Entekhab]….  Azimut will buy the stake through AZ International Holdings, its Luxembourg-based unit.  Azimut and Mofid also plan to establish a fund, domiciled in Luxembourg, for foreign investors to invest in Iran.”  (Financial Times, “Italian asset manager buys stake in Iranian rival,” 10/10/2017).  In the same article, Azimut is quoted as saying, Azimut was “looking for an opportunity to invest in a very interesting market. Iran is a great story.”  (Id.). (https://www.ft.com/content/e49c340a-add1-11e7-aab9-abaa44b1e130) (https://www.ft.com/content/e49c340a-add1-11e7-aab9-abaa44b1e130)

According to its 2019 financial statement, Azimut group owns a 20% stake in Mofid.  (http://www.azimut-group.com/documents/36325/1166381/Trimestrale+31+marzo+2019+EN.pdf/84ed0863-ead8-4096-b4aa-1e4133717887)