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 November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1591 sec (6 req/sec)