First potential buyer for insolvent Romanian chemical producer Oltchim

Local group SCR, owned by the Romanian investor Stefan Vuza, who owns the chemical producer Chimcomplex Borzesti, wants to acquire some of the assets of the chemical producer Oltchim Ramnicu Valcea. It wants to create an integrated company following the acquisition. Vuza said that he was willing to invest up to EUR 100 million in Oltchim. However, he is only interested in the group’s assets in Oltchim, without the Bradu petrochemical platform next to the Arpechim Pitesti refinery. Three years ago the group took part in the public auction to buy Oltchim, but lost to the Romanian media owner Dan Diaconescu, who failed to pay the price and compromised the tender. This time, Oltchim Ramnicu Valcea will be sold piece by piece to interested investors, according to the company’s new privatization strategy. It will be split into nine separate asset packages, which will be sold either individually or together to interested investors. editor@romania-insider.com