YEREVAN, NOVEMBER 18, NOYAN TAPAN. At the special sitting on November 18, the RA State Commission for Protection of Economic Competition discussed the issue of concentration of the European Bank for Reconstruction and Development (EBRD) and Araratbank. The EBRD had applied to the Commission, informing it that it intends to acquire the ordinary nominal shares recently issued by Araratbank, with these shares making up 25% of the bank's authorized capital plus one share. A declaration of the companies' concentration had also been submitted. As a result of administrative proceedings initiated by the Commission based on the application, the Commission concluded that there are no grounds for banning the concentration of the companies and permitted it.

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