Monday, 26 August 2002

ARMENIAN POWER GRID FINALLY SOLD

Published in News Digest

By empty (8/26/2002 issue of the CACI Analyst)

Midland Resources Holding, the only bidder, was on 24 August declared the winner of a tender for an 81.1 percent stake in Armenia's low-voltage power-distribution networks, RFE/RL's Yerevan bureau reported. The company, which is owned by a Canadian citizen and registered in the Channel Islands, paid $37.
Midland Resources Holding, the only bidder, was on 24 August declared the winner of a tender for an 81.1 percent stake in Armenia's low-voltage power-distribution networks, RFE/RL's Yerevan bureau reported. The company, which is owned by a Canadian citizen and registered in the Channel Islands, paid $37.15 million for the controlling stake; it is anticipated that the European Bank for Reconstruction and Development will acquire the remaining stake. Two earlier tenders failed after all potential bidders withdrew. (RFE/RL)
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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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