Reforms Minister Refutes Rumors of Armenia Hotel Sale

YEREVAN (Noyan Tapan)–Minister of Economic and Structural Reforms Vahram Avanessian denied rumors in the press that Armenia Hotel had been sold for $12 million.

Negotiations are in progress on the privatization of hotels Armenia–Ani and Dvin as well as the Yerevan Brandy Co.–and it is impossible to report all the details now–the minister told Noyan Tapan. He said no deadline has been set on the negotiations.

A day earlier–"Azg" daily newspaper reported that Armenia Hotel had been sold for $12 million to Beno Tontian–an American of Armenian descent–and that the French Pernod Ricard company claimed to have won the tender for privatization of the Yerevan Brandy Co. by offering 180 million fran’s (about $30 million).

Avanessian pointed out that the first announcement on the sale of the "ArmenTel" telephone company was made last December–however the contract was finalized only in February. According to him–the fact that there are no official statemen’s about the above-mentioned enterprises proves that there is not even a preliminary agreement regarding their sale.


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