Carlson Ventures International Ups Stake In Oltchim To 13.9%

05.13.2011 By Andrei Circhelan

British investment firm Carlson Ventures International Ltd. on Thursday bought a 1.66% stake in Romanian chemical company Oltchim (OLT.RO) through a Cyprus-registered firm, raising its stake to 13.9%.

The company through which the stake was bought, Nachbar Services, acquired the shares through several transactions, including a deal market trade, for a total 3.4 million lei (EUR846,000).

The trades were brokered by KBC Securities, according to a report sent Friday to the Bucharest bourse.

Oltchim has a share capital of RON34.3 million, split into 343 million shares with a face value of RON0.1. The company is 54.79% owned by the state, while German PCC SE holds 13.01%.

The government has agreed with the International Monetary Fund to sell its stake in Oltchim by the end of the year, and to pinpoint solutions for the plant's debt.

Oltchim shares were trading late-Friday at RON0.657, up 7.7% on the day. (EUR1=RON4.106)