Global bunker supplier and energy business Chemoil Energy Limited (Chemoil) has said it has agreed to buy 50% stakes in two base lube trading businesses in cash deals worth a total of $16.4 million, Ship & Bunker reports.
In the August 2, 2012 announcement, CEO Tom Reilly said Chemoil would buy 50% of Delaware USA based Chemlube International LLC (Chemlube) for approximately $8.3 million in cash, and 50% of the shares of Swiss firm Sopetra S.A. (Sopetra) for approximately $8.1 million cash.
On its website, Chemlube list Sopetra as an affiliate company handling their base oils business in parts of Europe and the Eastern hemisphere.
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