November 22, 2017

Chinese companies show interest in Oltchim’s privatisation

On Monday, the minister of economy Andrei Gerea, the judicial administrators of Oltchim and the chairmen of the Chinese companies Baota Petrochemical Group, Hengchao Sun and Junlun Petroleum Co. Ltd, Changqing Xie signed a letter of intent aiming at the participation in the process of privatisation of Oltchim. “In this letter of intent, we guarantee the Chinese companies non-discriminatory treatment, a transparent process in perfect competition, as well as the observance of all commitments and European regulations. The letter of intent refers strictly to what we have, but, in case there is interest for Arpechim as well, we will try to ensure the conditions for dialogue” minister Gerea said, at the end of the discussion with the Chinese representatives. The document was signed at the request of the Chinese representatives, so that, after a thorough analysis, they decide if they present or not offers for Oltchim. According to the calendar presented by the head of economy, by 2 December 2013, there will finalised the agreement of creditors, to be followed by the strategy of selection of the investor to be ready by 20 February 2014. According to the representatives of the ministry of economy, 17 January 2014 will be the deadline for the offers for Oltchim.

Source: Actmedia (read more)

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