East Prospect Fund concerned over its investment in Armenia
19.08.2015,
17:23
The East Prospect Fund, which invested last week over $68 million in the Air Armenia, said today in a statement that the incident with Arsen Avetisyan, a majority shareholder in the airline, who was reportedly assaulted in Yerevan by the bodyguards of Ruben Hayrapetyan, the president of the Football Federation of Armenia (FFA), jeopardizes the investment fund's 49 percent stake in the company.
YEREVAN, August 19. / ARKA /. The East Prospect Fund, which invested last week over $68 million in the Air Armenia, said today in a statement that the incident with Arsen Avetisyan, a majority shareholder in the airline, who was reportedly assaulted in Yerevan by the bodyguards of Ruben Hayrapetyan, the president of the Football Federation of Armenia (FFA), jeopardizes the investment fund's 49 percent stake in the company.
According to media reports, Arsen Avetisyan was beaten up and hospitalized with a broken nose and other serious injuries over the weekend in an attack which was reportedly led by Ruben Hayrapetyan.
"We, the co-founders of the national airline Air Armenia, wish to express our concern over the incident which occurred on August 15, 2015, involving our partner, the owner of 51% stake and the executive director of the Air Armenia Arsen Avetisyan," the statement, signed by the fund's executive director Vladimir Bobylev says.
The statement notes that the personal security and freedom of action of each employee of the company is one of the main preconditions and guarantee of security for the organization of free activities of the airline.
"We are responsible for the implementation of the investment policy of the company, for its debts and other liabilities related to its 250-member staff and those companies that have long been good partners of Air Armenia. The incident in question may jeopardize the company's investments," according to the statement.
The incident was first reported by Avetisyan’s wife, Izabella Melkumyan, who published also an open letter to President Serzh Sargsyan saying that Ruben Hayrapetyan and his bodyguards kidnapped his husband after the beating. According to her, Hayrapetyan demanded that Avetisyan sign a statement that he owes a substantial amount of money to him.
According to media reports, Air Armenia has outstanding debts to another local airline, Taron-Avia, whose owner “ceded” the debt to Hayrapetyan. The violent incident is being investigated by law-enforcement authorities.
In 2014 December, Vladimir Bobylev, the chief executive of the East Prospect Fund, pledged to invest at least $30 million in the Air Armenia carrier to replace and expand the company’s small fleet of aircraft in the coming months.
East Prospect Fund is a licensed investment financial fund registered in the British Virgin Islands but headquartered in Kiev, Ukraine. It is said to manage $2.5 billion worth assets. -- 0—
According to media reports, Arsen Avetisyan was beaten up and hospitalized with a broken nose and other serious injuries over the weekend in an attack which was reportedly led by Ruben Hayrapetyan.
"We, the co-founders of the national airline Air Armenia, wish to express our concern over the incident which occurred on August 15, 2015, involving our partner, the owner of 51% stake and the executive director of the Air Armenia Arsen Avetisyan," the statement, signed by the fund's executive director Vladimir Bobylev says.
The statement notes that the personal security and freedom of action of each employee of the company is one of the main preconditions and guarantee of security for the organization of free activities of the airline.
"We are responsible for the implementation of the investment policy of the company, for its debts and other liabilities related to its 250-member staff and those companies that have long been good partners of Air Armenia. The incident in question may jeopardize the company's investments," according to the statement.
The incident was first reported by Avetisyan’s wife, Izabella Melkumyan, who published also an open letter to President Serzh Sargsyan saying that Ruben Hayrapetyan and his bodyguards kidnapped his husband after the beating. According to her, Hayrapetyan demanded that Avetisyan sign a statement that he owes a substantial amount of money to him.
According to media reports, Air Armenia has outstanding debts to another local airline, Taron-Avia, whose owner “ceded” the debt to Hayrapetyan. The violent incident is being investigated by law-enforcement authorities.
In 2014 December, Vladimir Bobylev, the chief executive of the East Prospect Fund, pledged to invest at least $30 million in the Air Armenia carrier to replace and expand the company’s small fleet of aircraft in the coming months.
East Prospect Fund is a licensed investment financial fund registered in the British Virgin Islands but headquartered in Kiev, Ukraine. It is said to manage $2.5 billion worth assets. -- 0—
