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BOURBON: Decision related to BOURBON's proposed investment in the gas sector

PARIS, May 17, 2016 (GLOBE NEWSWIRE) -- During its meeting of May 16, 2016, the Board of Directors of BOURBON acknowledged that the required financing for the acquisition of the gas activities of JACCAR Holdings would not be obtained within the timeframe stated in the Framework agreement governing the investment.

Consequently, the Board of Directors have decided to remove resolution 4 and 5 (partially) from the agenda of the Annual Shareholders meeting of May 26, 2016, related to the ratification of the proposed transaction.

The diversification of BOURBON in this new activity remains a strategic objective for the company. BOURBON, illustrating a strong resilience in the low point of the cycle of the offshore market, is reinforcing its position in its main market and will be the first to take advantage of the recovery of activity when it will happen. It will then be able to ensure a new step in its development.

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 34 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 2015, BOURBON'S revenue came to €1,329.6 million and the company operated a fleet of 511 vessels as of December 31, 2015.

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

Contacts

BOURBON Agence relations média
Publicis Consultants

Relations investisseurs, analystes, actionnaires Vilizara Lazarova
James Fraser, CFA +33 144 824 634
+33 491 133 545 vilizara.lazarova@consultants.publicis.fr
James.fraser@bourbon-online.com

Communication Groupe
Christelle Loisel
+33 491 136 732
christelle.loisel@bourbon-online.com

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Source: BOURBON