IRAN: Buying into Krupp

The fabled Essen-based Krupp industrial empire, which supplied munitions for Germany's military forays for more than a century, was owned entirely by the Krupp family in 1967 when near bankruptcy forced the Krupps to relinquish control. But ownership still remained exclusively German, with 95% of Fried. Krupp Hüttenwerke AG, the steel-producing operating company, in the hands of a foundation. Last week, the Iranian government and the management of Krupp announced that Iran would acquire a fourth of Hüttenwerke's shares—at an estimated cost of $100 million.

The purchase, which is scheduled to become effective by October, will be the first major...

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