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March 11, 2010

Bourbon buys out partner in Brazil JV

Paris-headquartered Bourbon has bought out its 50% partner in Delba Maritima Navegacao and now owns 100% of the share capital the subsidiary.

The move underlines Bourbon's intention to continue its expansion in the Brazilian market for offshore oil and gas marine services

Bourbon made the acquisition at the request of its former partner and says it is using opportunity to consolidate its medium and long-term position in Brazil.

The operational management and organization of the subsidiary remain unchanged.

Delba Maritima Navegacao has over 500 employees, based in five locations and operate a fleet of 16 vessels.


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