WORLD BANK EXPRESSES CONCERN AT RUSSIAN PURCHASE OF ARMENIAN ENERGY-DISTRIBUTION NETWORKS
By empty (7/11/2005 issue of the CACI Analyst)
Roger Robinson, head of the World Bank\'s Yerevan office, expressed concern over the reported acquisition by Russia\'s state-run Unified Energy Systems (EES) of the Armenian Energy Network (AEN), RFE/RL\'s Armenian Service reported on 8 July. News of the alleged sale of AEN -- which the Canadian-owned Midlands Resources holding company acquired for $40 million in September 2002 -- to EES for $73 million surfaced late last month, but a spokeswoman for AEN rejected them, explaining that AEN has simply signed a management agreement with EES. But an announcement posted on the EES website on 7 July confirmed that an EES subsidiary has acquired AEN.Visit also
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