Banks take control of Bourbon assets

Written by Nick Blenkey
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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.

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