French banks mount takeover bid for Bourbon

French banks mount takeover bid for Bourbon

Under pressure French OSV giant Bourbon has sought a suspension of its listing on the Euronext Paris bourse this morning as a takeover offer has come to light.

The company has been under a court-led restructuring since August, saddled by huge debts, much of which are owed to Chinese financial institutions.

Bourbon stated in a release today that a group of French banks have made a takeover offer for Bourbon Corporation, with other takeover offers likely to come in soon too.

“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,” Bourbon stated in a release.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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