Bourbon: Banks make takeover offer

Written by Nick Blenkey
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A company owned by a group of French banks has made a takeover offer for Bourbon Corporation. As we reported earlier, the offshore services giant sought restructuring protection from the Marseilles Commercial Court back in July, disclosing liabilities of over $1 billion.

In a statement issued today Bourbon said:

As part of the reorganization proceedings opened since August 7, 2019 by the Marseilles Commercial Court to the benefit of Bourbon Corporation and its affiliate Bourbon Maritime, Court Administrators have received a takeover offer. This offer made by a company owned by a group of French banks, concerns assets and activities of Bourbon Corporation.

As other takeover or continuation offers could be received by the Court Administrators, Bourbon Corporation has asked Euronext Paris to suspend the listing of its shares as of today and until the Commercial Court has completed its analysis of the various options.


Meantime, the search is continuing for any further survivors of the sinking of the Bourbon Rhode.
Yesterday, Bourbon said that there had been “no result at this stage” from additional vessels and aircraft deployed following reports of possible distress flares seen by two seafarers onboard one of the vessels taking part in the search, the AHTS Alp Striker, during the night of Sunday to Monday.

There were 14 seafarers on board the Bourbon Rhode at the time of the sinking. Three survivors have been rescued and four bodies have been recovered.

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