Home > Latest News > No new buyer comes forward for MFA building; Eurnekian-owned company to proceed with deal

No new buyer comes forward for MFA building; Eurnekian-owned company to proceed with deal

A government auction for the sale of a building in Yerevan’s central square now housing the Ministry of Foreign Affairs has attracted no new buyers. It emerged on Tuesday when the auction was to have been held.

This means that the Tango Company, which is owned by Argentine-Armenian businessman Eduardo Eurnekian and with which the government signed an agreement for the sale of the building last fall, remains the legitimate buyer (the originally agreed selling price is $51.2 million).

When the deal first transpired last October it came under heavy criticism first for providing the building that is of architectural value for a hotel and secondly for completing the deal on an “non-alternative basis”, i.e. without an auction.

Armenian News

Advertisements
Categories: Latest News
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: