Grigor Ter-Ghazaryan, owner of GTB Holdings, has neither confirmed nor denied rumors that he intends to purchase Electric Networks of Armenia (ENA), but addressed the matter on his Facebook page.
“Friends, ENA currently belongs to the Tashir company, where the state has appointed a manager and certain processes are underway. So how can I possibly buy it? Please leave me/us alone,” he wrote.
On July 18, the Public Services Regulatory Commission, citing a government report, launched proceedings regarding HES and appointed Romános Petrosyan—former head of the State Supervision Service—as temporary administrator. Petrosyan has since implemented leadership changes.
On July 23, businessman Samvel Karapetyan’s legal team announced that his family had won an emergency arbitration case against the Armenian government. In response, the executive branch noted that all parties must comply with Armenian legislation as well as international agreements governing arbitration decisions.
