IHS Chemical Week

Regions :: Eastern Europe

Oltchim could be split

10:41 AM MDT | March 19, 2013

Oltchim (Râmnicu Vâlcea, Romania) could be split in two to pay down debt and help attract investor interest before a majority stake is sold to an investor to meet requirements under a precautionary International Monetary Fund loan accord, according to a Ziarul Financiar report. Under the reorganization plan, a special purpose vehicle would be created to transfer the company’s viable assets. Nonviable assets would be liquidated to help pay off debt, which now is close to €800 million ($1 billion), according a Bloomberg...

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