Oltchim’s assets’ sale price set at EUR 129 mln

Petrochemical plant Oltchim, which is insolvency, announced this Friday that its assets’ sale price to Chimcomplex Borzesti is RON 127 million, plus VAT, while Dynamic Selling Group will pay EUR 1.9 million for the acquired stakes, plus VAT.

The investments fund White Tiger Wealth Management Ltd refused to sign the assets’ sale contract regarding the asset bundle 1, 3-5, 7,8 and partially no.9, announcing the unilateral withdrawal from the transaction.

In the asset sale contract, concluded between Oltchim S.A. and Chimcomplex S.A. Borzesti, regarding the asset bundles no. 1-5, and partially bundle no. 7, the transaction price is the RON equivalent of EUR 127,000,000, namely RON 582,345,800, plus applicable VAT, covering all the transferred assets, in the context of the applicable agreement,” says the release of Oltchim to the Bucharest Stock Exchange (BVB).

Also, in the asset sale contract, concluded between Oltchim S.A. and Dynamic Selling Group S.R.L.,regarding the asset bundles no. 6, the transaction price is the RON equivalent of EUR 1.9 million, namely RON 8.724 million plus applicable VAT, covering all the transferred assets, in the context of the applicable agreement.

The finalization of the transactions requires the fulfillment of some conditions, such as the approval of the General Meeting of The company’s  creditors, says the release.  The finalization of the sales process is estimated to take place in the first part of 2018.

Read more about

Chimcomplex Borzești achieved, in 2023, an operating profit margin of 8%

read more