Oltchim said it has proposed leasing Arpechim’s installations from Petrom until negotiations are complete.
Contacted by MEDIAFAX, Oltchim’s general manager Constantin Roibu didn’t say how much the company is offering to buy out Arpechim, but said the deal could be sealed by year-end.
End-2009, Oltchim bought the petrochemical business of Arpechim refinery for around EUR13 million.
Petrom announced recently it would shut down the remaining operations at the refinery, because it couldn’t find a suitable buyer.
Oltchim is majority owned by the Economy Ministry, with a 54.79% stake.
Thursday, Oltchim shares closed up 14.98% at RON1.059 in Bucharest.