Tsarukyan-owned brandy plant transferred to Armenian state control

As part of an illegal asset confiscation procedure, shares of Yerevan's Ararat Brandy-Wine-Vodka Factory OJSC have been transferred to state management by a decision of Armenia's Anti-Corruption Court, Report informs via Armenian media.

Armenia"s Prosecutor General's Office said this.

On October 9, 2023, the Prosecutor General's Office filed a lawsuit with the Anti-Corruption Court against Gagik Tsarukyan and his associates, seeking the confiscation of illegal assets. The lawsuit demanded that Tsarukyan-owned shares in the factory be confiscated in favor of the Republic of Armenia as assets of illegal origin.

Under the court's decision dated July 30, 2026, the motion was granted. The management and custody of shares in Yerevan's Ararat Brandy-Wine-Vodka Factory were transferred to the Republic of Armenia, represented by the Economy Ministry.

Earlier, Tsarukyan-owned Araratcement plant and Multi Wellness Center sports complex were also transferred to state management.