Banks take control of Bourbon
A group of banks will take control of Bourbon’s assets effective January 2nd, 2020. With that decision from the Marseilles Commercial Court, Bourbon’s six-month-long reorganization process has come to an end.
Bourbon had received at least four takeover bids following the suspension of its listing in July this year. By a judgment dated December 23, 2019, the Marseilles Commercial Court has now decided to dispose Bourbon’s assets to Société Phocéenne de Participations (SPP), which is formed by the following banks: BNP Paribas, Caisse Régionale de Crédit Agricole Mutuel Alpes Provence, Caisse Régionale de Crédit Agricole Mutuel de Paris et d’Ile de France, CM-CIC Investissement SCR, Crédit Lyonnais and Natixis and Société Générale.
As the world’s largest OSV-operator, Bourbon has been in severe financial distress since the crude price collapse. This summer, the French company was dealt a final blow when creditors demanded repayment of EUR 800 million in outstanding debt, prompting Bourbon to suspend its listing and start a court-lead restructuring process.
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Project Cargo Summit 2024 programme takes shape
Excitement is building for the Project Cargo Summit 2024 in Bilbao, Spain! The dates are locked in (September 17th and 18th), the speaker list is filling up fast, and preparations are underway to make the “Project Cargo Summit 2024: Mega Cargo, Mega Solutions” an unforgettable event.
Project Cargo Summit 2024 registrations open
The time has come, we have opened registrations for this year’s edition of the Project Cargo Summit. As it was previously unveiled, the Port of Bilbao will be our host on September 17 and 18. There have been some changes since the announcement.
Project Cargo Summit goes to Bilbao
Following the successful outing in Bremen in 2023, ProMedia and its Project Cargo Summit team have turned their sights to a new adventure and have partnered with the Port of Bilbao. So for the 2024 edition of the Project Cargo Summit, project cargo, breakbulk and heavy lift industry specialists will gather in Bilbao for two… Read more ›