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Torm Chairman: Sale process still in very early stage

Private equity funds seem poised as candidates to take over the reigns from Torm's current owners. Half the carrier's MR fleet is 10 years old or older.

Torm's negotiations with new potential owners are currently at an extremely preliminary stage with no guarantee that the so-called "structured process involving a series of external stakeholders" will lead to a result in 2014, says Torm Chairman Flemming Ipsen in a comment on the carrier's brief to the stock exchange on Monday that Torm has made a deal with a financial consultant to explore the possibilities of conducting a strategic transaction during this year. The carrier made a somewhat similar statement back in August 2013.

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