BOURBON (EPA:GBB) BOURBON - Press Release : the sale of 2 vessels generates capital gains of approximately US$ 63 million

Transparency directive : regulatory news

15/11/2013 07:00

Press release

Paris, November 15, 2013

BOURBON continues its policy of modernizing and standardizing its fleet by the
      sale of two vessels for US$130 million, generating capital gains of
                          approximately US$63 million

BOURBON announces the sale of the Bourbon Surf and Bourbon Borgstein, two large
10-year old Norwegian built AHTS (Anchor Handling Tug Supply) vessels for a
total amount of US$130 million, generating a total capital gain of
approximately US$63 million.

BOURBON will continue to operate the two ships for a minimum period of 2 years
to a maximum period of 5 years, with an annual bareboat charter cost of 13% of
the transaction value.

This sale continues BOURBON's strategy that aims to focus its fleet on modern
and fuel efficient ships, built in series, in order to offer its most demanding
clients the service quality of a standardized fleet of efficient and reliable
vessels.

About BOURBON

As a leader in offshore marine services, BOURBON offers the most demanding
oil & gas companies a comprehensive range of surface and subsea marine services
for offshore oil & gas fields and wind farms. These services are based on an
extensive range of latest-generation vessels and the expertise of more than
10,000 competent professionals. The Group provides local service through its 27
operating subsidiaries, close to clients and their operations, and it
guarantees the highest standards of service quality and safety worldwide.

BOURBON has two Activities (Marine Services and Subsea Services) and also
protects the French coastline for the French Navy.

In 2012, BOURBON posted revenues of EUR1.187 billion and as of September 30,
2013, it operated a fleet of 479 vessels.

Under its "BOURBON 2015 Leadership Strategy" plan, the Group is investing in a
large fleet of innovative and high-performance offshore vessels built-in
series.

The latest action plan "Transforming for beyond" in its financial aspect aims
at the sale and bareboat chartering for 10 years of US$2.5 billion of new or
existing vessels. The first phase of the program has been signed for 51 vessels
and up to US$1.5 billion with ICBC Financial Leasing.

Through "Transforming for beyond", BOURBON wants to enlarge the scope of
achievable strategies beyond 2015 and be ready to deliver growth and value
creation further.

Classified by ICB (Industry Classification Benchmark) in the "Oil Services"
sector, BOURBON is listed for trading on Euronext Paris, Compartment A, and is
included in the Deferred Settlement Service SRD, in the SBF 120 and CAC Mid 60
index.

CONTACTS

PR Agency : Publicis Consultants

Jérôme Goaer           +33 (0)1 44 82 46 24  -
                       jerome.goaer@consultants.publicis.fr
Véronique Duhoux       +33 (0)1 44 82 46 33  -
                       veronique.duhoux@consultants.publicis.fr
Vilizara Lazarova      +33 (0) 1 44 82 46 34 -
                       vilizara.lazarova@consultants.publicis.fr

BOURBON
Investors - Analysts - Shareholders Relations
James Fraser, CFA      +33 (0)4 91 13 35 45  -
                       james.fraser@bourbon-online.com
Communication Department
Christelle Loisel      +33 (0)1 40 13 86 06  -
                       christelle.loisel@bourbon-online.com

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12/02/2020 11:21

BOURBON (EPA:GBB) BOURBON - Press Release : the sale of 2 vessels generates capital gains of approximately US$ 63 million

Transparency directive : regulatory news

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