M&A Activity • Sep 3, 2013
M&A Activity
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Leidschendam, The Netherlands, 3 September 2013
Fugro has effectively completed the sale and transfer of its airborne activities to CGG. Certain administrative actions are still to be completed, but these do not impact business continuity and are anticipated to be finalised shortly.
The airborne activities form part of the Geoscience activities, the majority of which were already transferred to CGG on 31 January 2013. CGG has drawn the second tranche (EUR 100 million) of the vendor loan upon the transfer of the airborne activities.
Recently, CGG repaid EUR 112.5 million of the first tranche (EUR 125 million) of the vendor loan ahead of schedule. On balance, the vendor loan to CGG now stands at EUR 112.5 million.
Please refer to the press releases of 28 January 2013 and 9 August 2013 for more information on the background to the sale of the majority of Fugro's Geoscience business.
For more information: Media Rob Luijnenburg [email protected] +31 70 31 11129
Investors Catrien van Buttingha Wichers [email protected] +31 70 31 15335
Fugro collects, processes and interprets data related to the Earth's surface and sub-surface and provides advice based on the results. As an extension to these activities, Fugro provides services such as precise positioning, construction materials testing, reservoir engineering and data management. Fugro's operations have been organised into four divisions: Geotechnical, Survey, Subsea and Geoscience. Fugro is listed on Euronext Amsterdam and is included in the AEX-Index. Fugro has approximately 12,000 employees in more than sixty countries.
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