Oltchim eyes 62 mln eur loan to buy Petrom assets

Romanian chemical plant Oltchim OLTC.BX said on Monday it has approved plans to borrow 62 million euros ($88 million) to buy petrochemical assets owned by top oil and gas group Petrom SNPP.BX. "We approved contracting ... a loan worth 62 million euros with a 6-year maturity, which will be used to buy the petrochemical assets of Petrom's Arpechim Pitesti (refinery) ... and for working capital," Oltchim said in a statement. About 80 percent of the loan, which was approved in a general ...

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