Armenian government approves finalized deal on Vorotan Cascade sale

The Armenian government on Thursday approved the finalized deal on the sale of Vorotan Cascade to Contour Global Hydro Cascade, a U.S. company.

The government said that the deal on selling Vorotan Cascade was signed on January 29, 2014. However, the transfer was delayed and the deal was not completed as the parties resumed talks over several provisions of the deal, and as a result, some provisions were amended.