Russian state-owned TISE shows interest in Romania's petrochemical company Oltchim

Russian energy company TISE is interested in buying Romanian state-owned petrochemical company Oltchim Ramnicu Valcea. TISE's general manager Karen Galustyan and the company's delegation met Romanian Economy Minister Ion Ariton on Thursday in Bucharest to talk about this possibility, the ministry has announced. TISE is a state-owned Russian company founded in 2003. Oltchim holds debts of over EUR 550 million. Romania has pledged to privatize Oltchim chemicals producer at the request of the International Monetary Fund. The main shareholder in Oltchim is the Romanian state, with 54.8 percent of the shares. British investment fund Carlson Ventures International owns 14 percent in Oltchim, while PCC owns 17.5 percent of the shares. By Romania Insider, editor@romania-insider.com