Al Zayani Automobile and Trading Co.
Al Zayani Automobile and Trading Co. (“Al Zayani”) signed a deal with Borgward Group AG (“Borgward”) in Bremen, Germany, acquiring the exclusive rights for distribution of Borgward vehicles in Kuwait. (Tires & Parts News Resource, “Borgward Group AG Officially Appints Exclusive Distributors in UAE Kuwait and Bahrain,” 6/12/2017). At the same time, media reports indicate that Borgward is also ready to sign similar deals in Iran with two Iranian companies, Bahman Group and Iran Khodro (a.k.a. IKCO), which are affiliated with the Islamic Revolutionary Guards Corps (“IRGC”). According to Borgward Deputy Director Tom Anliker, “[n]egotiations have been held between Borgward and major Iranian carmakers including Iran Khodro and Bahman Group.” (Financial Tribune, “Borgward Reportedly in Deal With Kian Motor,” 6/13/2017).