The owners of CJSC "Electric Networks of Armenia" do not intend to agree to the authorities' offer to sell the company, said former acting CEO of ESA, David Kazinyan. According to him, the reason is the extremely low valuation of the asset, which, according to media reports, could be around 380 thousand dollars.
At the same time, it is noted that the Tashir group's investments in the energy company since 2016 are estimated at approximately 900 million dollars, which makes the proposed deal price incomparably low. Kazinyan called the situation a manifestation of the state's attitude towards private business and stated that such an offer cannot be accepted.
The dispute around ESA is developing against the backdrop of judicial and political decisions. The Administrative Court of Armenia previously suspended the government's actions regarding the procedure for transferring the company to state ownership until May 25. In April 2026, Prime Minister Nikol Pashinyan stated that "Electric Networks of Armenia" is effectively already in the process of nationalization, explaining this by consumer interests and management problems. Romanos Petrosyan has been appointed interim manager of the company since July 2025.
