×

Bourbon SA Involved After Tax Audits in West Africa

PARIS, April 14, 2015 (GLOBE NEWSWIRE) -- Following the arrest of the former Tax Manager of the company at the airport of Marseille-Provence while he was returning from Africa in possession of approximately 190,000 euros in cash in October 2012, a judicial investigation has been initiated in Marseille.

This investigation relates in particular to allegations of bribery of public officials in Cameroon, Equatorial Guinea and Nigeria in connection with the tax audits of local entities in 2011 and 2012.

The former Tax Manager, who had been immediately dismissed since then, has been placed under formal investigation, in particular for bribery of foreign public officials. As a consequence, the legal entity Bourbon SA has today been placed under formal investigation for the same charge, together with a guarantee of 1 million euros.

Pursuant to this procedure, after the former Tax Manager was placed under formal investigation, some members of the Executive Management were placed under formal investigation in April and November 2013 for complicity in bribery.

BOURBON and its Executive Management contest very strongly the charges brought against them, and it is noted that they are entitled to the presumption of innocence and will reserve their explanations for the judicial authorities.

The group operates in complex environments. Its activities are carried out in strict compliance with the laws of each country and BOURBON attaches great importance to compliance with anti-bribery regulations. Moreover, these events have encouraged the group to strengthen its policies, procedures and training programs in relation to ethics and compliance and in particular those regarding the fight against bribery.

About BOURBON

Among the market leaders in marine services for offshore oil & gas, BOURBON offers the most demanding oil & gas companies a wide range of marine services, both surface and sub-surface, for offshore oil & gas fields and wind farms. These extensive services rely on a broad range of the latest-generation vessels and the expertise of more than 11,000 skilled employees. Through its 28 operating subsidiaries the group provides local services as close as possible to customers and their operations throughout the world, of the highest standards of service and safety.

BOURBON provides two operating Activities (Marine Services and Subsea Services) and also protects the French coastline for the French Navy.

In 2014, BOURBON'S revenue came to €1,346.4 million and the company operated a fleet of 505 vessels as of December 31, 2014. Under the "BOURBON 2015 Leadership Strategy" plan, the group has built a vast fleet of innovative, high-performance mass produced offshore vessels.

Placed by ICB (Industry Classification Benchmark) in the "Oil Services" sector, BOURBON is listed on the Euronext Paris, Compartment A.

Contact

Media relations agency
Publicis Consultants

Jérôme Goaer
+33 144 824 624
jerome.goaer@consultants.publicis.fr

PDF version http://hugin.info/159569/R/1911230/681850.pdf

HUG#1911230

Source: BOURBON