HOLDING COMPANIES

"GALAXY" GROUP OF COMPANIES

HOLDING COMPANIES

"INTELLIGENT MANAGEMENT" HOLDING

HOLDING COMPANIES

"GRAND HOLDING" Co.Ltd

HOLDING COMPANIES

"VALLEX GROUP" Closed Joint-Stock Company (CJSC)

HOLDING COMPANIES

"SAS-GROUP" Co.Ltd

HOLDING COMPANIES

"ENERGY INVEST HOLDING" Closed Joint-Stock Company (CJSC)

HOLDING COMPANIES

"MBG HOSPITALITY" GROUP OF RESTAURANTS

HOLDING COMPANIES

"AB COMMUNICATIONS"

HOLDING COMPANIES

"KHACHATRYANS HOLDING" Closed Joint-Stock Company (CJSC)

HOLDING COMPANIES

"GN GROUP"

HOLDING COMPANIES