The privatization of Oltchim is placed in jeopardy by a lawsuit filed by Dan Diaconescu, said Remus Vulpescu, the head of the OPSPI.
Dan Diaconescu challenged in court the decision of the General Meeting of the Shareholders of Oltchim concerning the updating of the amount of the receivable of the AVAS as well as the interest it had accrued by the date of its sale.
In the beginning of last week, Dan Diaconescu told BURSA that he would seek to block the decisions of the General Shareholder Meetings of Oltchim.
Mr. Vulpescu said: "I don't understand what harm Oltchim caused to Mr. Diaconescu which was so grievous that he had to file a lawsuit against the company, just as it is beginning its privatization. The OPSPI is now in the situation of selling a receivable which is the object of a lawsuit. In such a situation, the proceeds from the sale of that receivable can only be a lot smaller than what they would normally be due to that lawsuit".
When asked whether the sale of the AVAS receivable can still take place given this lawsuit, the head of the OPSPI replied that he is not certain that the sale will succeed.
According to Vulpescu, by Sunday night, Dan Diaconescu had not submitted the final bid for the privatization of Oltchim. The deadline expires today at 12:00. "If he participates in the privatization, the lawsuit filed by Dan Diaconescu could skew the competition between the bidders", the head of the OPSPI said in closing.
* The OPSPI expects three competitors for Oltchim
The head of the Office For The State's Interests and Industrial Privatization (OPSPI), Remus Vulpescu, expects to receive by 12:00 today, three firm bids for the privatization of Oltchim Râmnicu Vâlcea.
The statements were made on Friday afternoon, before the information about the lawsuit filed by Dan Diaconescu appeared.
Mr. Vulpescu said on
