BOURBON Corporation's assets sold to French banks by decision of the Marseille Commercial Court

BOURBON Corporation which has been in restructuring process said that by a judgment dated December 23, 2019, the Marseilles Commercial Court decided of the disposal of the assets of the Corporation to Société Phocéenne de Participations (SPP).

Transfer of ownership of the BOURBON Corporation assets will take place as of January 2, 2020.

Société Phocéenne de Participation (SPP) is a company owned by a group of French banks representing 75% of the group's debt: BNP Paribas, Caisse Régionale de Crédit Agricole Mutuel Alpes Provence, Caisse Régionale de Crédit Agricole Mutuel de Paris et d’Ile de France, Crédit Mutuel Equity SCR (anciennement dénommé CM-CIC Investissement SCR), Crédit Lyonnais, Natixis and Société Générale.

BOURBON operates in 47 countries, with a modern and standardized fleet of more than 483 vessels and 31 operating affiliates. The group is a leading service provider in the offshore oil and gas industry.