The transfer stemmed from a capital increase operated at Polyolt Holding, in which Carlson Ventures, through its subsidiary Nachbar Services, participated with an in-kind contribution.

Oltchim has 54.8% of its shares in the hands of the Romanian Economy Ministry, while Germany’s PCC SE holds an 18.32% stake.

The state’s stake was auctioned off for some 203 million lei (EUR45 million) in September, but the winner, a controversial local politician and journalist, failed to produce the money by the October 1 deadline.

Prime Minister Victor Ponta said recently that Oltchim’s privatization would be resumed in 2013, pending a restructuring program.

The financially-troubled company is scheduled to restart production of one of its units sometime next week.

Oltchim has total debts worth over EUR700 million. The company reported losses of around EUR42 million in the first half of 2012, more than double on the year.

Monday, Oltchim’s shares closed up 2.92% at RON0.6175 in Bucharest.

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