Yerevan Ararat Brandy-Wine-Vodka Factory transferred to Armenia’s management, maintenance

Within the framework of the proceedings for the confiscation of property of illegal origin, based on the mediation of the Prosecutor General’s Office of Armenia, the shares of Yerevan Ararat Brandy-Wine-Vodka Factory OJSC have been transferred to the management and maintenance of Armenia by the decision of the Anti-Corruption Court, the Prosecutor General’s Office reports.

On October 9, 2023, the Prosecutor General’s Office had filed a claim with the Anti-Corruption Court against opposition Prosperous Armenia Party chairman, businessman Gagik Tsarukyan and to persons affiliated with him for the confiscation of property of illegal origin.

The claim, among other things, demanded the confiscation of the shares of Yerevan Ararat Brandy-Wine-Vodka Factory OJSC belonging to Tsarukyan in favor of Armenia as property of illegal origin. Within the framework of the case of confiscation of property of illegal origin, on July 29, 2026, the Prosecutor General’s Office filed a petition with the Anti-Corruption Court to apply a measure of security for the claim on the transfer of the management and custody of the shares of Yerevan Ararat Brandy-Wine-Vodka Factory OJSC to Armenia.

By the aforesaid court’s decision of July 30, 2026, the petition was granted, and the management and custody of these shares was transferred to Armenia, represented by the Ministry of Economy. In addition, the Prosecutor General’s Office, in its lawsuit for confiscation of property of illegal origin, demands the confiscation of the following from Gagik Tsarukyan and persons affiliated with him:

– 75 real estate which include, among others, 52 apartments in Yerevan’s Nor Nork district, 5 apartments on downtown Yerevan’s Abovyan Street, 11 apartments in Kotayk Province, and several other real estate.

– Market value of 10 properties.

– 42 vehicles.

– Participation in 38 legal entities, including Multi Group Concern LLC, Multi Avtotrans LLC, Onira Club LLC, and several other legal entities.

The requested monetary claim amounts to 105,865,865,000 drams. Within the framework of the case of confiscation of property of illegal origin, on July 13, 2026, the Prosecutor General’s Office had submitted another petition to the Anti-Corruption Court to apply a measure of security for the claim, on transferring the management and custody of the shares of AraratCement CJSC to Armenia.

By the aforesaid court’s decision of July 15, 2026, the petition was granted, and the management and custody of the shares of AraratCement CJSC was transferred to Armenia.