BJNI MINERAL WATER FACTORY SOLD FOR AMD 4.441 BILLION

ARKA
Feb 16, 2009

YEREVAN, February 16. /ARKA/. Bjni mineral water factory was sold
for AMD 4.441 billion at the compulsory auction held Monday, said
Ruben Grdzelyan, spokesman of Armenian Justice Ministry’s agency of
compulsory execution of judicial acts.

He said that the agency is not entitled to name the purchaser.

The unknown purchaser has already paid AMD 222 million as necessary
fee.

"The winners of the auction ought to pay the remaining amount within
three days, Grdzelyan said.

The previous auction on Bjni was held in late January, but no bids
were received then.

Under the relevant law, in such cases, the auction can be resumed
on the third workday after completion of the previous session, and
initial bid is lowered 10%.

The auction was resumed on February 5 with initial bid of AMD 4.441
billion (more than $14.5 million).

The plant belonged to SIL Concern owned by Sukiasyan family.

MP Khacharur Sukiasyan, the company shareholder, has been announced
wanted for tax evasion, the factory was halted and its property seized
in fall 2008 after State Revenue Committee notified the plant about
recovery of AMD 4 billion 67 million 201 thousand 600 to the state
budget in accordance with Administrative Court’s decision.