Pashinyan Seeks Stake from Electric Networks of Armenia

The newspaper "Hraparak" reports that the campaign launched by the authorities against the Electric Networks of Armenia, owned by Russian businessman Samvel Karapetyan, has a specific objective. According to our information, Nikol Pashinyan is seeking a stake in the Electric Networks of Armenia, similar to how he previously acquired shares in the ZPMC.

Meanwhile, in the usual fashion, the government is staging shows, making loud revelations, and orchestrating public protests to create the illusion of ownership pressure on Karapetyan to "donate" shares to the government. The newspaper reminds that the government holds more than 21% of shares in ZPMC, and they aim to implement a similar strategy with the Electric Networks as well, which explains the ongoing campaign.

There are unverified reports that Karapetyan has refused to voluntarily cede shares, prompting the authorities to adopt "forceful" methods. The recent increase in power outages is seen as a conducive factor for this approach. Discussions on this issue have already been organized twice in the National Assembly, and the matter was also addressed in one of the meetings of the ruling Civil Contract Party.

We inquired with Garegin Baghramyan, the head of the Regulatory Commission for Public Services, about the legal possibilities concerning a potential transaction involving the Electric Networks. He stated that he is not aware of any such discussions, but theoretically, anything is possible: "If both parties reach an agreement, I do not know what legal issues could arise there; it would be a civil transaction. However, the transfer of more than 25% of shares needs to be coordinated with the commission."