Armenia's Defense Ministry seeks full ownership over military company - paper

Armenia's Defense Ministry seeks full ownership over military company - paper

PanARMENIAN.Net - Armenia's Defense Ministry is eager to purchase 20 per cent of shares of Automatica CJSC.

The Ministry will submit this draft decision at the coming governmental session, Haykakan Zhamanak daily reports saying it already owns 80% of shares in this military industrial enterprise.

“It is unclear why the Defense Ministry seeks to possess 100 % of this company; no shareholder of any company in Armenia can in fact interfere with the company’s activities,” paper says.

The remaining 20 per cent currently belong to a certain Zaven Tumanyan, and the defense ministry is going to buy the share for USD 200000. The government will allocate the sum from off-budget resources, the daily says.

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