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Romanian Businessman Wins Auction to Buy Oltchim Stake, but Deal Still in Doubt

2:25 PM MDT | September 24, 2012 | Ian Young

Romanian politician and businessman Dan Diaconescu won the previously announced auction to buy the Romanian government's majority stake in Oltchim (Râmnicu Vâlcea, Romania). Diaconescu, head of a political party and owner of a Romanian television station, pledged to pay about 203 million leu ($59 million) for the state's 54.8% stake in Oltchim. The other bidders were PCC (Duisburg, Germany), a minority shareholder in Oltchim; Aisa Invest (Cluj-Napoca, Romania); and Chimcomplex (Borzesti, Romania). The Office of State Ownership and Privatization in...

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