Diaconescu, who offered 203.14 million lei (EUR45 million) for the state’s shares in the chemical company, outbid Germany’s PCC SE and local businessman Stefan Vuza.
The winning offer is over ten-fold higher than the minimum price asked by the government, of some EUR4 million.
“We’ve offered EUR45 million without any extra conditions and we want to persuade the authorities to lend this money to the company to pay the employees and ensure a working capital,” Diaconescu told reporters after the tender.
The deal will be signed at a meeting scheduled for Monday morning.
The ministry also tried to auction off two receivables in Oltchim held by the state, but the only offer received was below the minimum price asked. The two receivables, held by state-run power company Electrica and by the national privatization AVAS, respectively, total around EUR401 million.
Oltchim’s privatization is prerequisite for the disbursement of further installments of a EUR3.6 billion loan agreement signed with the IMF.
The chemical company reported losses of RON188.2 million (EUR41.7 million) in the first half of 2012, more than double on the year. The company has total debts worth EUR700 million. (EUR1=RON4.5125)