Oltchim assets sale period extended

Oltchim Ramnicu-Valcea’s creditors have approved a two-month extension of the company assets’ sale period, from January 31 to March 28, at the request of potential investors. “This postponement was approved as a consequence of the requests received from the investors interested in the process of reorganizing Oltchim’s activity,” a communiqué issued by the chemical plant and transmitted to the Bucharest Stock Exchange on Wednesday reads. The Economy Ministry, Oltchim’s majority shareholder, set up a new company last December, called Oltchim SPV. The new company has taken over the chemical plant’s assets. Oltchim SPV’s assets are estimated at EUR 305.24 M, a value that does not represent the maximum price limit.

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