The Armenian government on October 15 approved the compulsory purchase of 100% of the shares of Electric Networks of Armenia, owned by Samvel Karapetyan's Tashir Capital. The Cabinet recognized the shares as an object of prevailing public interest, which allows the state to seize them without the owner's consent, provided compensation is paid.
The procedure for alienating the shares must begin no later than May 1, 2027, and be completed by October 1. According to Prime Minister Nikol Pashinyan, the authorities' main plan is to keep the company in state ownership. The amount of compensation has not yet been set: it will be determined by independent appraisers, taking into account investments, paid dividends, debts and other obligations, including those related to lawsuits and arbitration. Shareholders will also be allowed to submit their own valuation.
The authorities explain the decision by the need to ensure uninterrupted electricity supply to more than 1 million subscribers and to maintain long-term state control over strategic energy infrastructure. The compulsory purchase will allow the shares to be transferred to the state regardless of the current owner's consent, but the final amount of compensation has yet to be determined.