Bourbon (ENXTPA:GBB) agreed to acquire 100% stakes in Greenship Gas and Greenship Gas Manager Pte. Ltd and 80% stake in JHW Engineering & Contracting Limited from JACCAR Holdings SA for approximately $710 million on March 28, 2016. Bourbon will acquire stake for $320 million, comprising $303.8 million for the Greenship Gas division and $16.2 million for the JHW division. The payment of $100 million will be deferred and payable within a maximum period of three years following the completion of the transaction, or brought forward in the event it is refinanced by Bourbon through the sale of shipping trust shares. Bourbon will receive a seller's credit of $100 million and is anticipated to have in place a bridge loan of $220 million for a maximum period of three years to fund the transaction. Greenship Gas, Greenship Gas Manager Pte. Ltd and JHW Engineering & Contracting Limited reported net debt of $389 million as of December 31, 2015. Upon approval by the transaction at Bourbon's shareholder meeting, M. Jacques de Chateauvieux would be named Chairman and Chief Executive Officer of Bourbon. The acquisition is subject to ratification by shareholders of Bourbon at the Annual General Meeting on May 26, 2016. The Board of Directors of Bourbon approved the acquisition, by taking into account the opinion of an ad hoc committee and the opinion of an independent expert. As of May 16, 2016, the Board of Directors of Bourbon acknowledged that the required financing for the deal would not be obtained within the timeframe stated in the agreement. The transaction is expected to close on July 28, 2017. Vilizara Lazarova acted as PR advisor to Bourbon. Ledouble SA acted as an accountant for Bourbon. Bourbon (ENXTPA:GBB) cancelled the acquisition of 100% stakes in Greenship Gas and Greenship Gas Manager Pte. Ltd and 80% stake in JHW Engineering & Contracting Limited from JACCAR Holdings SA on March 28, 2017.