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Chemoil in ownership talks

Chemoil in ownership talks
Singapore-based marine fuel suipplier Chemoil founder Robert Chandran's family members are in talks to sell the 51% majority share in the company they inherited following his death in a helicopter crash last year.

CHEMOIL IN OWNERSHIP TALKS

Singapore-based marine fuel suipplier Chemoil founder Robert Chandran's family members are in talks to sell the 51% majority share in the company they inherited following his death in a helicopter crash last year.

While the company has said it has held talks with multiple interested parties, it is reported that the sole remaining bidder is international commodity trading group Glencore International, with the value of the deal placed somewhere around US$240m.

Chemoil was forced to issue a statement to the Singapore Stock Exchange following a share price spike on speculation that a deal was close to conclusion.

www.TurkishMaritime.Com.tr

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