ArmInfo. The Armenian government has offered $400,000 for the Electric Networks of Armenia (ENA), while its value is between $800 million and $1 billion. David Ghazinyan, a member of parliament from the Strong Armenia opposition faction, stated this in a conversation with journalists at the National Assembly.
The MP called the proposed price unequal. "Let them invite a competent international appraiser who is not subject to pressure, and you will see that his assessment will not differ from mine," the MP stated. When asked whether Samvel Karapetyan, the leader of the Strong Armenia bloc and owner of ENA, would be prepared to give up the company if offered the amount indicated by Kazinyan, the MP recalled that the businessman had already stated that he does not intend to sell. He also noted that the case is still being heard in both international arbitration and domestic courts. Meanwhile, he added, despite the ongoing legal proceedings, the Armenian authorities have already recognized the issue as a matter of public interest and intend to transfer ENA to someone else. "Is there any logic in this? Let's imagine that the Administrative Court of Appeals finds the license revocation illegal and reinstates it, and by that time the authorities have already sold ENA." How is this possible? We can't claim to be a state governed by the rule of law and yet take such steps without waiting for a court decision. It's the same as if a person were detained without a trial," Ghazinyan concluded.
As a reminder, on September 9, the Ministry of Territorial Administration and Infrastructure of Armenia submitted a draft government resolution "On Recognizing the Public's Preemptive Right to 100% of the Shares of Electric Networks of Armenia Closed Joint-Stock Company" for public discussion on the e-draft.am platform. The document notes that the Armenian government intends to nationalize Samvel Karapetyan's Electric Networks of Armenia CJSC by October 1, 2027, for 20.7 billion drams (approximately $56.7 million). On October 15, the Armenian government approved the resolution authorizing the nationalization of the company. It should be added that the Armenian government initiated the nationalization of Karapetyan's company in July 2025, after the businessman publicly stood up for the Armenian Apostolic Church.
