Bourbon SA has been placed under formal investigation following the arrest and investigation of its former tax manager under suspicion of bribery of foreign public officials.

Namely, Bourbon’s former tax manager was arrested at the airport of Marseille-Provence while he was returning from Africa in possession of approximately 190,000 euros in cash in October 2012.

Following the arrest, a judicial investigation has been initiated in Marseille, relating in particular to allegations of bribery of public officials in Cameroon, Equatorial Guinea and Nigeria in connection with the tax audits of local entities in 2011 and 2012.

Pursuant to this procedure, after the former tax manager was placed under formal investigation, some members of the executive management were placed under formal investigation in April and November 2013 for complicity in bribery.

“BOURBON and its Executive Management contest very strongly the charges brought against them, and it is noted that they are entitled to the presumption of innocence and will reserve their explanations for the judicial authorities,” the company said in a statement.