Investors got the deadline for submitting binding offers for Oltchim’s privatization postponed

Those interested in participating at the privatization of the chemical plant, still have the possibility to submit their binding offers following a postponement of the initial deadline – January 31, 2014, until March 28, 2014. The delay has been called by investors and was approved by Oltchim’s Committee and creditors which convened yesterday as per the request of the judicial administrators, Rominsolv and BDO Business Restructuring, is stated by a media release.

In December 2013, there was elaborated the reorganization strategy of Oltchim on the basis of which a new trading company – Oltchim SPV S.R.L. - was established, as Govnet informed. Additionally, all the shares Oltchim S.A owns in the new company were put up for sale, the benchmark value of the assets transferred to Oltchim SPV exceeding 305 million euro. Yet, it does not necessarily represent the maximum price of the transaction.

As the selection procedure of the binding offers was scheduled to be initiated on February, 3, this year, following the delay announcement, that and all the other procedural deadlines will be postponed accordingly, is announced through the mentioned notification.


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