Bourbon to Sell Interest in Rigdon Companies

Friday, May 30, 2008

Under the merger proposal between Rigdon Marine Corporation and Gulfmark Offshore announced on May 28, Bourbon will sell its interest in the Rigdon companies.
This sale will be effective on completion of the merger which is due to take place in the
3rd quarter of 2008.
For BOURBON it will generate:
capital gain on sale of approximately 60 million euros,
repayment by Rigdon of loans granted by BOURBON, for a total of 110 million euros, which, in addition to the cash proceeds from the sale, will reduce the group’s debt.
Since January 2006, Bourbon had contributed to the implementation of Rigdon’s financial structure.
As this company has been so far accounted for according to the equity method, the sale will have no impact on revenues nor on Bourbon’s EBITDA.

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

More German Shipowners Look to Gibdock for Repairs

Gibdock remarks it has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent

No Sign of Ultra-Large Containership Mega Hubs: Analysis

Contrary to the views of some in the industry, Ultra Large Container Vessels are continuing to call at multiple North European ports per loop and are not concentrating on a mega-hub,

Wärtsilä Reshuffles Two Top Managers

The following appointments have been made in the management inform Wärtsilä Corporation: Mr Rakesh Sarin (59), B.Sc. (Eng.), has been appointed President of Power Plants,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1260 sec (8 req/sec)