Boluda Group (Spain) to acquire French tug company Les Abeilles

2007 July 25 14:05

Boluda Group (Spain) to acquire French tug company Les Abeilles

Spain’s Boluda Group is poised to acquire French tug company Les Abeilles from the French Bourbon Group. “Talks are well under way and going well but no price has been settled for the sale of the company,” a Bourbon spokesman said today. Les Abeilles owns 66 tugs and employs 1,100. Financial analysts in Paris have claimed Les Abeilles is worth €200M-240M ($275M-330M). Last year, the Bourbon Group approved a business investment plan placing 90% of corporate investments in the period to 2010 in the company’s offshore division. A Boluda purchase of Les Abeilles would increase the Spanish company’s tug fleet from 127 to 193 tugs. Fairplay was unable to get comment from Boluda Group.

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