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. Last Updated: 07/27/2016

Privatizing in Armenia

YEREVAN, Armenia -- The Armenian parliament on Friday approved by a 63 to 38 vote a plan to privatize the country's electricity grid.

The plan calls for the privatization of four state electricity producers, with 51 percent of the shares going to strategic investors, 20 percent to the European Bank for Reconstruction and Development, 20 percent remaining in the hands of the state, 5 percent to other investors and 4 percent to employees of the companies.

Four companies have made tenders: AES of the United States, the Swiss-Swedish ABB, Electiricte de France and the Spanish Union Fenosa.