Bucharest - Romanian Insider has reported that local media tycoon Dan Diaconescu has win the Oltchim privatisation auction, with an offer worth RON 203 million ($ 58 million).
The other companies bidding for Oltchim were German Group PCC SE, already a minority shareholder in Oltchim and businessman Stefan Vuza, who made two offers via Chimcomplex and Aisa Invest, said the Romanian Insider report.
The Romanian government approved the privatisation strategy for Oltchim Ramnicu Valcea in August, under which the state would sell its 54.8 percent stake in the company, as well as the debt package held by AVAS, worth some Euro 400 million, reported Liam Lever of romania-insider.com.
PCC owns Polish polyols group PCC Rokita, which might have synergies with the polyols operation of Oltchim.
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