Armenia Government Moves to Seize Electric Networks Shares
The Government proposes to recognize overriding public interest over 100 percent of ENA shares
The Armenian government has proposed recognizing an overriding public interest in acquiring 100 percent of shares in Electric Networks of Armenia (ENA), the country's major electricity distributor serving over one million consumers.
Under the proposal, the government would compensate current shareholders—Tashir Capital (70 percent) and Liormand Holdings Limited (30 percent)—at equivalent rates before taking control. The initiative aims to ensure energy security, protect consumer interests, and guarantee uninterrupted electricity supply.
The government cited the need to transition from temporary management to long-term stable control of strategic energy infrastructure. The alienation process must begin by July 1, 2027, and be completed by October 1, with a May 1, 2027 deadline for initiating proceedings. ENA has a total nominal share value of approximately 20.7 billion drams.
