Four companies interested in Romania’s Oltchim majority stake

17 April 2012 15:41  [Source: ICIS news]

BUCHAREST (ICIS)--Four companies have submitted non-binding offers for the Romanian state’s controlling 54.8% stake in chemical company Oltchim, the Ministry of the Economy, Commerce and Business Environment (MECMA) said on Tuesday.

The companies are Germany’s PCC, a firm that already owns 18% of Oltchim; Russian infrastructure, energy production, investment company and Gazprom subsidiary TISE (Technologies Investments Services Energy); AISA Invest; and Pegamont SA, both from Romania.

“In the next two weeks we will make public the tender book, including the starting price, while by the end of May interested companies should send their binding offers”, said MECMA's Florin Vladan.

The only criterion in the assessment of the binding offers will be price, he added.

In recent months the Romanian government has been pushing ahead with a privatisation timetable for the disposal of its stake in Oltchim, as part of a commitment to economic restructuring being carried out in consultation with, and with financial support from, the International Monetary Fund (IMF).

Based at Ramnicu Valcea in southern Romania, Oltchim produces caustic soda, petrochemicals, agrochemicals, inorganic products and building materials, including insulating PVC for panels, doors and window frames.

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