Fugro Sells Geoscience Division To CGGVeritas

Author:Mr Bernard Roelvink
Profession:De Brauw Blackstone Westbroek N.V.
 
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De Brauw Blackstone Westbroek has acted as legal advisor to Fugro in relation to the divestment of the Fugro Geoscience division to CGGVeritas. Fugro provides geotechnical, survey and geoscience services to oil, gas, mining and construction industries; Fugro shares are traded on NYSE Euronext.

Fugro and CGGVeritas announced that they have signed an agreement under which CGGVeritas will acquire Fugro's Geoscience division, excluding the multi-client library and Ocean Bottom Nodes business, for a total cash consideration of EUR 1.2 billion. The transaction is consistent with Fugro's strategy to build strong market positions and a broad, cohesive service portfolio and to maintain a balance of its services across the exploration, development and production phases of the oil and gas industry. As part of the transaction...

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