Epress.am News from Armenia
In a September 17 Cabinet sitting the Armenian Government discussed the motion by Inter RAO UES for the alienation of 100% of the shares of “Electric Networks of Armenia” (ENA), the country's national power distribution company to “Liormand Holdings Limited.” The company, according to very limited information available in the public domain, was registered in Larnaca city, Cyprus, in 2010, which means authorities plan to sell Armenia's Russian-owned power utility to an offshore company.
The Government, as reported by the Executive's press service, has instructed the Minister of Energy and Natural Resources, Minister of Justice, Minister of Economy, and Minister of Finance to examine all documents and information within three days and draft an agreement on ENA's sale.