The bidding for the privatization of Romania’s chemical producer Oltchim has closed without Russian energy giant Gaprom entering an offer with the Office of State Ownership and Privatization in Industry (OPSPI), as the Romanian state was hoping for. The bid was originally to close on Monday (September 17 ) but was extended until September 20 at 12:00 at the request of Gazprom representatives.

In the end, the same three bidders submitted offers today. Media mogul Dan Diaconescu, whose offer was submitted about ten minutes late, said he had doubled his previous offer and now had a foreign backer. Diaconescu also described his offer as a birthday surprise for PM Victor Ponta, who turned 40 today.

PCC SE, a company registered in Germany and already a minority shareholder in Oltchim, again submitted an offer to OPSPI, but there was no announcement on whether the bid had been improved. Businessman Stefan Vuza made two offers via Chimcomplex and Aisa Invest. He said the offers made have been improved since Monday.

All four offers will be taken into consideration, the head of OPSPI Remus Vulpescu said earlier today. At noon tomorrow (September 21 ) OPSPI will either announce a winner, or, if the bids are considered of equal value, a competitive auction will be held.

Romania’s Government approved earlier in August the privatization strategy for Oltchim Ramnicu Valcea, where the state will sell the 54.8 percent package it owns in the company, as well as the debt package to the Authority for State Assets Recovery (AVAS) and Electrica, some EUR 400 million.

editor@romania-insider.com

photo source: sxc.hu