Let n be a subalgebra of g consisting of nilpotent elements. There exists a parabolic subalgebra q of g with the following properties:
(i) n⊂ng(q);
(ii) the normalizer of n in g is contained in q;
(iii) every automorphism of g leaving n invariant leaves q invariant.
If g is splittable, n is contained in a Borel subalgebra of g.
Let q1 be the normalizer of n in g. This is a decomposable subalgebra of g. Let n1=ng(q1). Define inductively qi to be the normalizer of ni−1 in g, and ni to be equal to ng(qi). The sequences (n,n1,n2,...) and (q1,q2,...) are increasing. There exists j such that qj=qj+1, in other words qj is the normalizer of ng(qj) in g. Thus qj is parabolic (Th. 1). We have n⊂nj= ng(qj), and q1⊂qj; every automorphism of g leaving n invariant evidently leaves n1,n2,... and q1,q2,... invariant. If g is splittable, qj contains a Borel subalgebra b, and consequently (§3, no. 4, Prop. 13), we have b⊃ng(qj)⊃n.
Bourbaki sets the proof directly after the statement, and the corpus does not separate them, so what is above is the statement and its proof together.