Why DP World is ready to buy Bourbon
Between now and the second half of June, at least three bidders are preparing to make a firm offer to buy French shipowner Bourbon (5,000 employees), Africa’s No. 1 operator of offshore oil service vessels. Lazard has been named adviser to assist in the process.
09/06/2023 at 16h36, by Africa Business+
Bourbon, based in Marseille, hired Lazard Bank a few months ago to find new investors. Through a holding company, Société Phocéenne de Participations (SPP), in which they hold a 72% stake, five French banks – BNP Paribas, Société Générale, Natixis, Crédit Mutuel and Crédit Agricole – took control of Bourbon in 2020, following its receivership. They were joined in the SPP by two of Bourbon’s other creditors who own part of its fleet: the Chinese bank ICBC (18%) and the US Standard Chartered (10%).
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