Business Assets
Tsarukian owns a dozen big businesses and rose to prominence in the late 1990s as a minority shareholder in a French-owned brewery in Abovian. His business empire has since expanded dramatically, aided by his close ties with then President Robert Kocharian.
Tsarukian's holding company is "Multi Group" which comprises over 40 small and large businesses. In March 2006, Tsarukian sold his 29 percent stake in the Kotayk brewery to French beer magnate Pierre Castel for about $4 million.
Businesses that are part of the Multi Group conglomerate include:
- Multi Lion, Armenia's leading supplier of liquefied gas to households, cars and buses, is fifty percent owned by Multi Group and fifty percent owned by Aleksandr Sarkisian, the brother of Armenia's president Serge Sarkisian.
- Multi Stone, stone processing company
- Yerevan Ararat Brandy, Wine and Vodka Factory Tsarukyan is curretnly accused of having deprived ownership rights of other investors in this company. Currently there are several court hearings pending.
Read more about this topic: Gagik Tsarukyan
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