Narek Karapetyan declines to comment on reports of government offer to acquire ENA

Narek Karapetyan, a member of the board of the “Strong Armenia” party, declined to comment on reports that the Armenian government had offered approximately 23.3 billion drams (about $62.3 million) to the shareholders – the family of Samvel Karapetyan – for the acquisition of Electric Networks of Armenia, on the condition that dividends received over the past ten years, amounting to 23.158 billion drams, be returned to the company.

In effect, if those dividends were returned, the government’s net offer for ENA shares would amount to roughly $380,000.

“ENA or other such structures are not our priority at the moment. Our main objective is to bring about substantial change in our homeland. They can propose or claim whatever they wish – we do not intend to engage in that discussion.

What is regrettable is that it may later become difficult to convince investors that the country respects private property and remains a reliable destination for investment. Such actions risk complicating the work of any future government.

By attempting to expropriate major businesses, they are undermining the country’s overall reputation. We will seek to restore it in some way,” Karapetyan said.