Bourbon Sells Sugar Assets in Vietnam

In accordance with the objectives of the 2003-2007 strategic plan, BOURBON is disposing of its nonmarine service operations and is selling its sugar assets in Vietnam. Following the incorporation of Sucrerie de Bourbon Tay Ninh (Vietnam) as a joint stock company, Bourbon is announcing the sale of 49% of its stake, with a commitment to retain the balance for a period of three years. Firstly, 24% of the shares have been sold today to strategic Vietnamese investors and investment funds for an exchange value of approximately 36 million euros. Secondly, a maximum of 20% of the shares will be sold in the very near future on the Hô-Chi-Minh City Stock Exchange, by auction, for an estimated minimum exchange value of approximately 32 million euros. Finally, shares representing 5% of the company will be sold, under favorable terms, to the Sucrerie de Bourbon Tay Ninh employees and sugar cane growers, for an exchange value of approximately 6.4 million euros. This operation marks the final steps in BOURBON’s focus on its marine services.