Armenian government refuses to place high voltage networks under Tashir Capital management

An Armenian Cabinet session recognized as invalid an earlier decision to place the High Voltage Electric Networks under the trust management of Tashir Capital, a division of Tashir group of companies, owned by Russia-based billionaire of Armenian origin Samvel Karapetyan.

Under that decision all 649,231 shares of the facility, each with a face value of 13,600 drams (totaling 8.8 billion drams) were to be placed under the trust management of Tashir Capital, ARKA reported.

According to minister of  Armenia's Energy Infrastructures and Natural Resources Artur Grigoryan, the agreement with Tashir Capital was canceled, because it had some points that were unprofitable to the state. 

Tashir group of companies expressed its surprise at the position expressed by the Minister of Energy Infrastructures and Natural Resources.