Romania to Sell Oltchim Majority by End of April

Romania plans to sell a majority stake in Oltchim SA (OLT), a chemical company, by the end of April 2012 as pledged to the International Monetary Fund, Mediafax reported, citing a government document that isn’t yet public. The government needs to select an investment bank to manage the sale by mid-February, according to Mediafax. The IMF blocked Oltchim’s planned acquisition of the Arpechim refinery from OMV Petrom SA (SNP) before the privatization, the Bucharest-based news service said. ...

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