YEREVAN. – The Public Services Regulatory Commission of Armenia on Thursday reached a decision to sell all of the shares of the Electric Networks of Armenia (ENA) CJSC to Tashir Group, which belongs to Moscow-based Armenian businessman Samvel Karapetyan.

Pursuant to the agreement that was signed between the Russian state-owned Inter RAO Holding B. V.—which owns the ENA shares—and Tashir Group, all of the shares of the ENA have been sold to Liormand Holdings Limited. But the transaction price is not made public.

Cascade Energy Networks company of Russia is the guarantor of this business deal before the Armenian government. To note, however, this company is included in Tashir Group.

As reported earlier, on a parity basis with the Government of Armenia, Tashir Group will cover a part of the electricity costs of the country’s general public and small businesses for the whole of 2015, compensating the difference between the tariffs before and after indexation on August 1.