Bloomberg News

Romania Seeks Bids to Help Manage a Majority Sale in Oltchim

October 28, 2011

Oct. 28 (Bloomberg) -- Romania is seeking bids from investment banks to manage the sale of a majority stake in its chemical manufacturer Oltchim SA, the country’s Economy Ministry said in an announcement published in Ziarul Financiar newspaper today.

The offers can be submitted by 10:00 a.m. local time and will be opened one hour later on Nov. 21, according to the announcement.

Romania will probably sell the stake in Oltchim by April or May next year to meet pledges made to the International Monetary Fund, Deputy Economy Minister Karoly Borbely said on Oct.26.

--Editor: Chris Peterson

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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