Company Operating Paid Parking Spaces in Yereva Prepared to Sell 100% of its Shares

Parking City Service, which operates the paid parking spaces in Yerevan, expressed willingness to sell 100% of its shares.

In a statement released today, company director Vazgen Harutyunyan says that since April 2013, Parking City Service has made enormous investments to install and run the city-wide system. 

"Taking into consideration the speculations regarding the company's activities published by the press recently and numerous political and not political figures' opinions and views on the company making profits as a result of receiving 70% of the collected parking fees, which are untrue, the company announces the sale of its shares. The company is prepared to sell 100% of its shares to all interested natural or legal persons who express different opinions and views — for the amount of the funds already invested by the company," said Harutyunyan. 

Recall, the issue of the new paid parking spaces in Yerevan was raised at the National Assembly in recent months. Furthermore, a group of drivers have been organizing protest rallies against the parking spaces as well as the instalment of speed sensors and CCTV cameras by the company Security Dream.