Chemoil says majority shareholders in stake sale talks

SINGAPORE, June 25 (Reuters) - Chemoil Energy (CHEL.SI) said on Thursday it has been informed that its majority shareholders are in talks with various parties for possible sale of part or the entire stake in the company.

"However, the company has been informed by the majority shareholder that, at this juncture, the discussions may or may not materialise into something definitive," Chemoil Chief Executive Officer Clyde Michael Bandy said in a statement to the stock exchange.

Sources familiar with the deal said on Wednesday the family of Chemoil founder Robert Chandran is in talks to sell its 51 percent interest in the marine fuel supplier, with trading giant Glencore the frontrunner for a stake worth $240 million. [ID:nSIN478340] (Reporting by Harry Suhartono, editing by Dhara Ranasinghe)