Welcome!

News Feed Item

BOURBON : Proposed Bid for Shares in BOURBON by JACCAR Holdings

PARIS and LUXEMBOURG, March 17, 2014 /PRNewswire/ --



BOURBON has been informed of a proposed bid for its shares at a price of 24 euros per share, announced March 16, 2014 by its main shareholder, JACCAR Holdings. This offer is conditional upon obtaining 50.1% of the capital and bank financing. This offer would allow JACCAR Holdings to strengthen its position in BOURBON's share capital and provide liquidity to shareholders. JACCAR Holdings has indicated that they do not intend to implement a squeeze-out following the completion of this offer. The proposed offer will be filed with the financial market authorities and the terms of the Offer will be subject to the discretion of the AMF (see full message of JACCAR Holdings in PDF attached).


The Board of Directors of BOURBON has been informed of this offer and will conduct a preliminary review of the key terms of the public offer at a meeting to be held March 21, 2014.

About  BOURBON

As  a  leader  in  offshore  marine  services,  BOURBON  offers  the  most  demanding  oil  &  gas  companies  a  comprehensive  range  of  surface  and  subsea  marine  services  for  offshore  oil  &  gas  fields  and  wind  farms.  This  offer  is  based  on  an  extensive  range  of  latest-generation  vessels  and  the  expertise  of  more  than  11,000  competent  professionals.  The  group  provides  local  service  through  its  27  operating  subsidiaries,  close  to  clients  and  their  operations,  and  it  guarantees  the  highest  standards  of  service  quality  and  safety  worldwide. 

BOURBON  has  two  Activities,  Marine  Services  (Offshore  installation  supply,  towage,  anchor  handling  and  positioning,  personnel  transport)  and  Subsea  Services  (Subsea  inspection,  maintenance  and  repair,  offshore  operations  engineering,  supervision  and  management)  and  also  protects  the  French  coastline  for  the  French  Navy. 

In  2013,  BOURBON  posted  revenues  of  1.312  billion  and  as  of  December  31,  2013,  it  operated  a  fleet  of  485  vessels.  Under  its  "BOURBON  2015  Leadership  Strategy"  plan,  the  Group  is  investing  in  a  large  fleet  of  innovative  and  high-performance  offshore  vessels  built-in  series. 

The  latest  action  plan  "Transforming  for  beyond"  in  its  financial  aspect  aims  at  the  sale  and  bareboat  chartering  for  10  years  of  US$2.5  billion  of  new  or  existing  vessels.  Through  "Transforming  for  beyond",  BOURBON  wants  to  enlarge  the  scope  of  achievable  strategies  beyond  2015  and  be  ready  to  deliver  growth  and  value  creation  further.

Classified  by  ICB  (Industry  Classification  Benchmark)  in  the  "Oil  Services"  sector,  BOURBON  is  listed  for  trading  on  Euronext  Paris,  Compartment  A,  and  is  included  in  the  Deferred  Settlement  Service  SRD,  in  the  SBF  120  and  CAC  Mid  60  index. 

Annex - message JACCAR Holdings received March 16, 2014

 

JACCAR  Holdings  prepares proposed  bid  for  shares  in  BOURBON

The board of directors of JACCAR Holdings, a company which currently directly owns 26.2% of the share capital of BOURBON representing 27.3% of the voting rights, is preparing a proposed bid for the shares in BOURBON, at a price of €24 per share, cum dividend (the "Offer"). The BOURBON shares are traded on the regulated market of NYSE Euronext in Paris (ISIN code FR0004548873).

This offer price represents a premium of respectively 19% compared with the volume-weighted average of the last 100 trading days, and 24% compared with the closing price on the day preceding the announcement.

The Offer is expected to be filed with the French financial markets authority (the "AMF") in April 2014 after the board of directors of BOURBON has issued its reasoned opinion. The indicative timetable of the Offer which will be examined by the AMF, will be published at a later date when the draft information memorandum prepared by JACCAR Holdings is filed.

The Offer would allow the offeror to strengthen its position in BOURBON's share capital and would offer liquidity to BOURBON's shareholders.

JACCAR Holdings will now contact a certain number of shareholders in order to find out their intentions with respect to the proposed transaction and will continue discussions with its banking partners on the financing of the transaction. The filing of the Offer is conditional upon satisfactory completion of negotiations with those banks.

JACCAR Holdings is not bound by any agreement that could have an impact on the Offer.

JACCAR Holdings intends to keep the BOURBON shares listed on NYSE Euronext in Paris, and consequently does not intend to implement a squeeze-out following completion of the Offer.

The Offer will lapse if the offeror does not hold, upon completion of the Offer, 50.1% of the outstanding share capital of BOURBON. The Offer could also be subject to obtaining regulatory approvals, including in particular from the relevant antitrust authorities.

This  press  release  does  not  constitute  and  should  not  be  construed  as  a  public  offer  to  buy BOURBON's securities.  It  is  possible  that  no  public  offer,  or  offer  to  acquire  securities  is  made.  In  accordance  with  French  law,  the  documentation  relating  to  the  Offer  which,  if  it  is  filed,  will  include  the  terms  and  conditions  of  the  Offer  will  be  subject  to  review  by  the  AMF.  The  Offer  will  only  be  opened  once  the  AMF  has  granted  its  clearance.

About  JACCAR  Holdings

JACCAR Holdings, based in Luxembourg, is the private investment company of Jacques de CHATEAUVIEUX, which is mainly focusing on businesses in the maritime sector. JACCAR Holdings is notably the main shareholder of Bourbon, Greenship Bulk, Greenship Gas and Sapmer Holdings, as well as a reference shareholder of the Chinese shipyard Sinopacific Shipbuilding.

http://www.jaccar.net

Contacts 
Philippe ROCHET : +65-6692-0069 (Singapore)
Jacques de CHATEAUVIEUX : +33-1-40-13-73-90 (France)

CONTACTS

PR Agency : Publicis Consultants
Jérôme Goaer +33(0)1-44-82-46-24 - [email protected]

Véronique Duhoux +33(0)1-44-82-46-33 - [email protected]
Vilizara Lazarova +33(0)1-44-82-46-34 - [email protected]

BOURBON
Investors - Analysts - Shareholders Relations
James Fraser, CFA +33(0)4-91-13-35-45- [email protected]

Communication Department
Christelle Loisel +33(0)1-40-13-86-06 - [email protected]

SOURCE BOURBON

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to ...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...