A change of ownership could be on the horizon for BorsodChem (Kazincbarcika; www.borsodchem.hu), the Hungarian PVC and isocyanates giant that this year already has seen a change of CEO and the launch of a new strategy – see Plasteurope.com Web of 19.06.2006. The group said it has received a takeover bid from Kikkolux, a buyout company linked to the German office of international investment funds Permira (Frankfurt; www.permira.de) and that due diligence is in progress.

The Pemira arm is said to have "entered into option agreements" with Borsodchem´s two largest shareholders, the Firthlion investment funds (London) backed by Russian investor Megdet Rahimkulov, and private equity group Vienna Capital Partners (VCP, Vienna / Austria; www.vcpag.com) to sell their shares for HUF 3,000 (around EUR 10.80) each. Together, the two investors control 52% of the chemicals and plastics producer´s voting rights.