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Bidding opens for Oltchim assets, decision expected in February

4:56 AM MST | December 13, 2013 | Francinia Protti-Alvarez

The administrators of debt-ridden petrochemical producer Oltchim (Ramnicu Valcea, Romania) have opened the bidding process for the company to interested parties, Oltchim announced on 12 December. Potential investors have until 31 January 2014 to submit their bids, and a decision is expected to be made by 3 February 2014, the company says. The Romanian government must divest its stake in Oltchim, together with other assets, to meet conditions agreed on under an International Monetary Fund (Washington) aid deal. The government, which holds a 54.8% stake in Oltchim...

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