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The sale of the Electric Networks of Armenia (ENA) Company will not take long – the deal will be concluded in a very short time, member of Armenia’s Public Services Regulatory Commission (PSRC) Samvel Arabajyan said during a briefing today, while commenting on the Armenian government’s decision to allow the sale of 100% of the ENA shares.

He said there are no bans or restrictions from a legal point of view, and the new owner of ENA will work in accordance with the Armenian law and established order. In his words, such are the conditions for any company to own ENA.

“I should draw your attention to the fact that there is also a third party, a guarantor: it is Kaskad Energoset Company that has wide experience in power supplies, and assembly and design work. It will take part in the management and operation of ENA. It is a company of Tashir Group,” the commission member said.

As was reported, at the government session today, on October 1, Prime Minister Hovik Abrahamyan said the Armenian authorities requested President of Tashir Group Samvel Karapetyan to purchase ENA Company from Inter RAO.   On Thursday, Public Services Regulatory Commission of Armenia gave consent for the sale of 100% of shares of ENA Company. “Tashir Group President Samvel Karapetyan expressed a readiness to provide his personal funds so as, on a parity basis with the government of Armenia, compensate the difference due to the tariff rise for citizens consuming up to 250 kWh a month and small businesses until August 1, 2016,” the PM said.