Local investor wants to buy largest Romanian chemical producer’s assets

Romanian company Chimcomplex Borzesti has submitted an offer to take over some of the assets of insolvent Romanian chemical producer Oltchim, the biggest such producer in the country. The firm has come up with the offer despite the fact that the European Commission has recently started an investigation into Oltchim plant’s debts to the Romanian state. Chimcomplex Borzesti is interested in acquiring the producer’s operational equipment, reports local Ziarul Financiar. “Our offer doesn’t cover the whole company. This is to the advantage of both parts,” said Virgiliu Bancila, president of Chimcomplex Borzesti. “We have submitted the offer, now the creditors need to assess it,” he added. Chimcomplex Borzesti is part of the group owned by Romanian investor Stefan Vuza. editor@romania-insider.com