Commodity trader Glencore is no longer in talks to provide financing to Indonesian conglomerate Bakrie group, which is close to a deal on Monday with Indonesian investors to help avert a default on a $1.345 billion (841.78 million pounds) loan, two sources with direct knowledge of the deal said.

The deal is part of Bakrie group's attempts to refinance the loan it obtained in March this year to consolidate its debts. Credit Suisse arranged the debt against Bakrie group's 47 percent stake in Bumi Plc and lenders included the Swiss bank and a group of hedge funds.

Glencore is no longer in talks with Bakrie group, two sources told Reuters. The sources declined to be identified because the information is not public.

Bakrie group is also talking to Renaissance Capital, led by Indonesian investor Samin-Tan, the sources said.

Bakrie group declined to comment, while Glencore was not immediately available to comment. Renaissance Capital could not be reached.

(Reporting by Reporting by Saeed Azhar in Singapore, Neil Chatterjee, Janeman Latul and Fathiya Dahrul in Jakarta; Editing by Vinu Pilakkott)