Shareholders will also decide on attracting potential loans of up to EUR95 million, as additional sums for the acquisition of “Olcthim assets or/and shares in Oltchim SPV,” Chimcomplex said in a statement.
Chimcomplex previously attempted to acquire Oltchim back in 2012, when it filed a bid, but was not declared winner at the auction organized at that time. In December 2013, Chimcomplex said it was planning to raise its capital by RON157 million and then buy the viable assets of Oltchim.
In July 2015, Chimcomplex management stated again it wants to buy Oltchim and set up the Romanian Chemical Company.
Oltchim, 54.8% owned by the Economy Ministry, halted operations in August 2012 in preparation for a privatization attempt, which failed after the auction winner refused to pay the price agreed with the authorities.
Chimcomplex is 83.8% indirectly owned by Stefan Vuza, through A2 Impex company, while the Romanian state owns a 12.89% stake.