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The alienation of 100% of the shares of Electric Networks of Armenia Company (ENA) will not affect electricity prices in the country, Armenian Minister of Energy and Natural Resources Yervand Zakharyan told reporters today following the government session.
“A tariff has already been set by Public Services Regulatory Commission and it will not be revised,” the minister said.

According to him, INTER RAO Holding B.V. filed a proposal on alienation of ENA’s shares , and the Armenian government approved that proposal at its session on Thursday.

When asked if rumors are true that Liormand Holdings Limited - the company that submitted an application for acquisition of ENA shares - is an offshore company, the minister replied that all the documents will be examined.

Y. Zakharyan has promised to give detailed answers to all questions about the deal after all relevant studies are completed. It will take a week for the interested ministries to examine the application on alienation of ENA’s shares, and a decision will be taken only after all details are provided, he added.

As regards debts of Electric Networks of Armenia, the minister said the debt will be assumed by the new company that will own the shares.

As was reported, INTER RAO Holding B.V. owning 100% of the shares of Electric Networks of Armenia applied to the Armenian government with the intention to alienate these shares to Liormand Holdings Limited. The decision was approved at the session of the Armenian government today.