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AEN denies reports about sale of shares

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  • AEN denies reports about sale of shares

    ArmenPress
    March 18 2005

    AEN DENIES REPORTS ABOUT SALE OF SHARES

    YEREVAN, MARCH 18, ARMENPRESS: A spokeswoman for Armenian Electric
    Networks (AEN) denied today press reports claiming that Alexei
    Schneider, the owner of Midland Group, an offshore British-registered
    company, that owns the AEN, wants to sell his shares in it at $100
    million.
    Schneider acquired his shares at $15 million committing also to
    pay $25 million of AEN's accrued debts.
    The spokeswoman, Marina Grigorian, said Midland Group's owner is
    not going to sell his shares in the company and "therefore, there is
    no point in talking about the networks' price."
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