The company said in a statement Tuesday that a new auction will be organized on December 15, after two failed attempts this year, in March and June, respectively.
In December 2013, the Economy Ministry set up a special purpose vehicle called Oltchim SPV to manage the company’s assets valued at some EUR305.24 million.
Oltchim’s judicial administrators are Rominsolv and BDO Business Restructuring.
Oltchim, majority 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.
Oltchim registered a turnover of 136.2 million lei (EUR30.2 million) in the first quarter of 2014, up 64.7% from the year-earlier period, and loss of RON56.2 million (EUR12.5 million), down 34.6% on the year.