The contract was signed on December 8.
Under an agreement between local authorities and the International Monetary Fund, Oltchim should be privatized by the end of April 2012.
The company has 3,454 employees and it is 54.8% owned by the Economy Ministry. Other shareholders include german PCC SE with 17.47% and Carlson Ventures with 14.02%.
Over the past four years, Oltchim has accumulated an overall loss of 763 million lei (EUR175.8 million). In the first nine months of the year, the company posted a loss of RON197.7 million. (EUR1=RON4.3409)