Armenian power company denies reports of takeover by Russian energy giant

Mediamax news agency
1 Jul 05

Yerevan, 1 July: The press secretary of the Armenian power grids,
Margarita Grigoryan, has denied reports that the company has been
taken over by the Unified Energy System of Russia.

“There have been only changes in the company management, which will
be announced next week,” Grigoryan told Mediamax today.

To recap, the Unified Energy System of Russia said the following in
its annual report on 30 June: “The Interenergo company, which is part
of the group [Unified Energy System of Russia], has bought 100 per
cent of the shares of the Armenian power grids. The total sum of the
deal was more than R2bn or 73m dollars, which was paid in cash.”