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From Armenia in brief: Bjni mineral water plant auctioned off

by Armen Hakobyan

Published: Saturday February 21, 2009

Ruben Hayrapetian. Photolure

Yerevan - Claiming that Bjni mineral water plant owed $13 million in environmental fees and fines, the Armenian government last year confiscated the company and placed it on the auction block for 4.3 billion AMD (about $14 million). Operations at the plant came to a halt on October 22, 2008. Its market share has been taken over by other mineral water bottlers.

The first auction did not yield any buyers, but on February 16, the company was successfully auctioned for 4.44 billion AMD.

Member of parliament Khachatur Sukiassian and his family have owned Bjni since 1997. Mr. Sukiassian, who helped bankroll the failed 2008 presidential campaign of Levon Ter-Petrossian, has been in hiding since the March 1 riots. He is wanted by police for attempting to usurp power. His supporters maintain that the confiscation of the company for failure to pay its taxes was politically motivated.

According to RFE/RL, Armenia's Service for the Mandatory Execution of Judicial Acts (SMEJA) initially refused to disclose the name of the buyer. It was later known that Ruben Hayrapetian, chair of the Armenian Football Federation, a member of parliament from the governing Republican Party of Armenia and a strong supporter of President Serge Sargsian, had purchased the company.

The Sukiassian family intends to take legal action to annul the sale of the company.