Romanian Government May Ask for Oltchim’s Insolvency, Bursa Says

Romania’s government may ask for an insolvency procedure for Oltchim SA, a state-owned unprofitable chemical company, following talks with the International Monetary Fund and the European Union, Bursa newspaper reported.

The Cabinet wants to restructure Oltchim and a 450 million-euro ($599 million) debt to the state, without risking a sanction from the EU, the Bucharest-based newspaper said, citing unidentified government officials.

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE