In response to inquiries received from representatives of the mass media, we inform that the Prosecutor’s Office, within the framework of its authority to protect state (community) interests, has examined the privatization process of the company “Araratcement”, which was alienated pursuant to Decision No. 1465-A of the Government of the RA dated September 12, 2002.

In connection with facts containing alleged indications of a crime identified during the examination, on May 5, 2026, the prosecutor submitted a crime report to the Anti-Corruption Committee of the RA.

Based on the report, on May 7, 2026, criminal proceedings were initiated under point 5 of part 2 of Article 441 of the Criminal Code (abuse by an official of official or service powers or influence arising therefrom, or exceeding authority, which through negligence caused other grave consequences) (2 counts), and point 3 of part 3 of Article 296 (money laundering on an especially large scale).

Among other identified violations, the report included a number of circumstances related to the privatization process, in particular:

• By Government Decision No. 690 of July 31, 2001, a tender commission was established for the purpose of privatizing, through a tender process, the state-owned shares of the company “Araratcement”.

Purchase offers were submitted by the Swiss company “Holcim LTD” and the English company “SK.Ajikawo Group”.

At the tender held on September 26, 2001, the Swiss company “Holcim LTD” was declared the winner, however, on October 22, 2001, the latter informed the Minister of State Property Management by letter that the company’s board of directors had rejected the investment program without providing reasons.

• By Government Decision No. 1465-A of September 12, 2002, 317,003 state-owned shares of the company “Araratcement”, each with a nominal value of AMD 10,000, were privatized through direct sale to the Belgian company “Roberto”. Under point 2 of the same decision, the price of the privatized shares was set at USD 200,000.

However, the founders of the company “Roberto” were Armenian citizens Azat, Robert, and Roman Muradyan, each of whom held a share of 250,000 Belgian francs (the euro had not yet entered circulation at that time). Thus, the company’s total capital amounted to 750,000 francs (equivalent to EUR 18,592).

Vahagn Guloyan was appointed the manager of the company “Roberto”. He is the younger brother of former MP Murad Guloyan, who is related by marriage to former Member of Parliament Gagik Tsarukyan and the paternal uncle of Tsarukyan’s son-in-law, former Head of Kotayk Karapet Guloyan.

Six months after the Armenian Government’s decision to privatize the company “Araratcement”, on March 23, 2003, the assembly of Roberto Company decided to appoint Gagik Tsarukyan as the sole manager of the company without limitation of term.

On June 26, 2003, the Brussels court announced the commencement of the company “Roberto” liquidation proceedings, which were completed five years later, on December 18, 2008.

Parallel to the criminal proceedings, the Prosecutor’s Office continued exercising its functions arising from its authority to protect state interests. In particular, on May 5, 2026, it addressed a letter to the Government of the RA proposing that it consider the appropriateness of undertaking proper administrative measures to eliminate the violations identified within the company and their consequences, including, for example, the appointment of a temporary manager for the company.