Romanian chemical producer to be privatised in nine chunks / A.T. Kearney consultancy to act as advisor

摘要

After many failed attempts at privatising Romanian chemical producer Oltchim (Rimnicu Vilcea; www.oltchim.ro), the Romanian state appears to be taking concrete steps toward divesting itself of the loss-making company. Reports say insolvency administrator Rominsolv (Bucharest / Romania; www. rominsolv.ro) has engaged A.T. Kearney (Chicago, Illinois / USA; www.atkearney.ctam), lending a note of authority to the undertaking. At the same time, the Romanian economics ministry - which holds a 54.81 % stake in Oltchim - has denied a connection with the ongoing investigation by the European Commission regarding illegal state aid for the company. The asset sale is due to take place in nine separate "packages," for which criteria have not been announced. The sale process is planned to be wrapped up by the end of this year.