13.10.2000, MEDIAMAX, YEREVAN. Armenian Energy Minister Karen Galustian did not exclude that during the negotiations with the potential buyers of power distributive networks of Armenia the initial formula of privatization, worked out by the Armenian Government, will be somewhat changed.
According the formula proposed by the Armenian Government 51% of chares will be owned by a strategic investor, 20% -by the European Bank for Reconstruction and Development, 20% - will be owned by the state, 5% of shares will be sold at the market and 4% will be distributed among the members of the staff of networks. Meanwhile, in early October, John Huffaker, the representative of the American AES SILK ROAD energy Company which claims for the role of owner of the networks stated to MEDIAMAX that "AES prefers to own 100% of its investments. If that level of ownership is not possible, then we work to get as close as possible to that objective."
Mr. Galustian gave no certain information about the date of the international tender on privatization of the networks and on the sum up.
The US AES Silk Road, the Swiss-Swedish "ABB", the Spanish "Union Fenosa" and the French "Electricite de France" are participating in the tender of the distributive power networks of Armenian.--0--