Inter RAO
In 2003, the HTPP was passed to Russian Federation to pay off the Armenian debt which was approximately US$31 million. The shares of the Hrazdan Energy Company went to the Federal Agency for State Property Management of Russia. In July 2009, all stocks minus one share were acquired by the RUssian state-owned holding company Rosneftegaz. In May 2011, all shares were bought by Inter RAO UES. In 2015, Inter RAO UES sold the Hrazdan Energy Company to Cyprus-registered Liormand Holdings Limited, a part of Tashir Group owned by Samvel Karapetyan. The deal will become fully in force in 2017.