Two weeks after filing a motion requesting the Armenian Government's approval to sell Armenia's energy distribution utility Electric Networks of Armenia, Russian energy conglomerate Inter RAO announced on Wednesday that the company has reached an agreement with Tashir Group, owned by Russian-based Armenian billionaire Samvel Karapetyan, over the sale of electric energy assets in Armenia.
Inter RAO and Tashir Group said in a joint statement that the sell and purchase deal has already been approved by the Armenian Government and is waiting for approval from Armenia's Public Services Regulatory Commission.
Note, on September 17 Inter RAO had motioned to the Government for the alienation of 100% of the shares of ENA to an offshore-registered (Cyprus) Liormand Holdings Limited. The company is owned by Marcuard Trust Ltd., the co-founder of which, Sinan Bodmer, is a member of the board of directors of Russian Fora-Bank which is a part of Tashir Group.
In order to support Armenian people, Tashir, on a parity basis with the RA Government, plans to cover part of the electricity costs of the general public and small businesses for the year of 2015, compensating the difference between tariffs before and after indexation on August 1, 2015, the official statement read.