Banks take control of Bourbon assets
Written by Nick Blenkey
The assets of French offshore services giant Bourbon, which filed for court protection in back in July disclosing liabilities of over $1 billion, have been sold to a group of leading banks.
The company issued this statement today:
By a judgment dated December 23, 2019, the Marseilles Commercial Court decided of the disposal of the assets of Bourbon Corporation to Société Phocéenne de Participations (SPP), a company owned by the following banking institutions : BNP Paribas, Caisse Régionale de Crédit Agricole Mutuel Alpes Provence, Caisse Régionale de Crédit Agricole Mutuel de Paris et d’Ile de France, CM-CIC Investissement SCR, Crédit Lyonnais, Natixis and Société Générale.
Transfer of ownership of the Bourbon Corporation assets will take place as of January 2, 2020.
