National Union of Employers hails sale of ENA to Tashir group of companies
YEREVAN, October 5. / ARKA /. The chairman of the National Union of Employers Gagik Makaryan hailed today the Armenian government’s decision to sell the national power distribution company-the Electricity Networks of Armenia (ENA) - to Tashir groups of companies saying the deal will have a positive impact both on public at large and small businesses.
On September 30 the Russia-based Tashir group of companies, owned by ethnic Armenian businessman Samvel Karapetyan, confirmed the acquisition of ENA from Russian energy holding Inter RAO. Samvel Karapetyan was quoted as saying in a press release that Tashir assumes the obligation to manage the Electricity Networks of Armenia.
Karapetyan said also in order to support the population of Armenia, it was agreed that Tashir and the government of Armenia will be paying in equal parts for one year the difference between the electricity rate that was effective until August 1, 2015 and the increased rate for households and small businesses.
The transaction has been approved by the Armenian government and the Public Services Regulatory Commission.
Speaking to reporters today, Gagik Makaryan said there is hope that the new owner of the company will improve the quality of electricity supplies and avoid periodic price increases.
"The National Union of Employers hails the sale of ENA to Tashir. We believe that the power distribution network was finally sold to a highly reputed company," said Makaryan.
Tashir said future plans include implementation of an anti-crisis program to optimize the financial performance of the company and raise control over its financial and economic activity, as well as a gradual modernization of the distribution networks.
Tashir Group consists of about 200 companies, including 30 shopping malls and two dozen office buildings and hotels across Russia. With total assets estimated by the “Forbes” magazine at $4.5 billion, Samvel Karapetyan is one of the world’s richest ethnic Armenians.
The ENA is said to have more than $220 million in outstanding debts to Armenian power generating plants and commercial banks. It was sold to Russian Inter RAO in 2006 at $73 million by Midland Resources, a British-registered company.-0-
On September 30 the Russia-based Tashir group of companies, owned by ethnic Armenian businessman Samvel Karapetyan, confirmed the acquisition of ENA from Russian energy holding Inter RAO. Samvel Karapetyan was quoted as saying in a press release that Tashir assumes the obligation to manage the Electricity Networks of Armenia.
Karapetyan said also in order to support the population of Armenia, it was agreed that Tashir and the government of Armenia will be paying in equal parts for one year the difference between the electricity rate that was effective until August 1, 2015 and the increased rate for households and small businesses.
The transaction has been approved by the Armenian government and the Public Services Regulatory Commission.
Speaking to reporters today, Gagik Makaryan said there is hope that the new owner of the company will improve the quality of electricity supplies and avoid periodic price increases.
"The National Union of Employers hails the sale of ENA to Tashir. We believe that the power distribution network was finally sold to a highly reputed company," said Makaryan.
Tashir said future plans include implementation of an anti-crisis program to optimize the financial performance of the company and raise control over its financial and economic activity, as well as a gradual modernization of the distribution networks.
Tashir Group consists of about 200 companies, including 30 shopping malls and two dozen office buildings and hotels across Russia. With total assets estimated by the “Forbes” magazine at $4.5 billion, Samvel Karapetyan is one of the world’s richest ethnic Armenians.
The ENA is said to have more than $220 million in outstanding debts to Armenian power generating plants and commercial banks. It was sold to Russian Inter RAO in 2006 at $73 million by Midland Resources, a British-registered company.-0-