GAGIK TSARUKYAN BUYS ALL SHARES OF KOTAYK

Tert.am
16.05.11

Armenian businessman, the leader of the Prosperous Armenia party,
Gagik Tsarukyan, has bought all the shares of the Kotayk brewery
factory from Castel.

Speaking to Tert.am, Tsarukyan’s spokesperson Khachik Galstyan said
they are “sparing no effort so that Kotayk beer will resume its
leading positions in the market”.

“For that reason we will pay great attention both to improving the
beer’s quality and to increasing the sales,” Galstyan said.

However, he refused to elaborate on the amount of the deal, saying
it is a “commercial secret”.

The Kotayk Brewery Factory in Abovyan was founded in 1974. In 1997,
Khachatur Sukiasyan, the owner of 71% of the shares, sold them to the
French firm Castel. The remaining 29% belonged to Gagik Tsarukyan,
who sold it to Castel in 2006 fro $4 million.

Castel has invested a total of $17 million in the factory.