Bourbon Puts Gas Plans on Hold

Bourbon’s plan to diversify into the gas carrier market has run into financial obstacles. The company said in a statement that its board of directors acknowledged that the financing required for the acquisition of Jaccar Holdings’ gas activities would not be obtained within the originally stated timeframe.

Consequently, the board has removed the resolution from the agenda of the annual shareholders meeting scheduled for May 26.

“The diversification of Bourbon in this new activity remains a strategic objective for the company,” it said in a statement. The company said it is now “reinforcing its position in its main market and will be the first to take advantage of the recovery of activity when it will happen. It will then be able to ensure a new step in its development.”