HEC May Be Recognized as a Public Dominant Interest: Romanos Petrosyan

The interim manager of HEC, Romanos Petrosyan, has announced that if the share transfer transaction is not completed by May 25, the company may be recognized as a public dominant interest.

During a conversation with journalists at the Public Services Regulatory Commission, Petrosyan clarified that his tenure involves the full completion of the stateization process of the company, which will take several more months.

He noted that if the share transfer transaction does not take place by May 25, a new phase will begin, during which the Government will recognize HEC as a public dominant interest.

Petrosyan also emphasized that his powers will cease only when the process is fully finalized and HEC receives a new license. He added that there is currently an administrative court decision mandating the Ministry of Territorial Administration and Infrastructure to refrain from stateization actions until May 25.

It is worth reminding that on March 11, 2026, the company filed a lawsuit against the Government of Armenia. The plaintiff demands that his right to sell his 70% stake in HEC according to an agreement with the Government be recognized by May 25, 2026. The court has partially granted the request, temporarily recognizing the possibility of alienating the specified stake according to the agreed procedure.