At the end of 2016, the company set off the sale process of nine assets bundles within the reorganization stage of the insolvency proceedings. Nine tenderers submitted binding bids in the sale process.
This week, Oltchim will conclude three sales contracts with Chimcomplex S.A. Borzesti, for five whole assets bundles and partly one (assets bundles no. 1-5 and partly 7), with Dynamic Selling Group S.R.L for one assets bundle (assets bundle no. 6) and with White Tiger Wealth Management Ltd for six whole assets bundles and partly one (assets bundles no. 1, 3-5, 7, 8 and partly 9).
Discussions with other bidders are still ongoing.
The completion of transactions under these contracts is subject to certain conditions to be met, including final approval by the general meeting of Oltchim’s creditors, the body which finalizes the selection of the winning bidders. Important information on the other binding offers will be presented to creditors for information purposes in the context of the Sale Process.
The Sale Process is expected to be completed in the first half of 2018.