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Fugro N.V. — M&A Activity 2013
Feb 18, 2013
3845_iss_2013-02-18_a4d22bd0-4ffe-4da7-ba9a-db185a5cc959.pdf
M&A Activity
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Leidschendam, The Netherlands, 18 February 2013
FUGRO: CLOSING OF SEABED GEOSOLUTIONS JOINT VENTURE WITH CGG
Fugro N.V., also on behalf of CGG, announces the closure of the previously announced Seabed Geosolutions joint venture on 16 February 2013.
The closure completes the process of incorporation of the ocean bottom node businesses from Fugro and CGG, and the CGG transition zone, ocean bottom cable and permanent reservoir monitoring activities in a joint venture. In addition to the contribution of relevant activities from both parents, Fugro has paid EURO 225 million to CGG with respect to the Seabed Geosolutions joint venture in which Fugro takes a 60% stake.
The joint venture will trade under the name Seabed Geosolutions and will be operational with immediate effect.
For further information: Fugro N.V. Rob Luijnenburg Telephone +31 70 311 11 12
Cautionary Statement regarding Forward-Looking Statements
This announcement may contain forward-looking statements. Forward-looking statements are statements that are not historical facts, including (but not limited to) statements expressing or implying Fugro N.V.'s beliefs, expectations, intentions, forecasts, estimates or predictions (and the assumptions underlying them).
Forward-looking statements necessarily involve risks and uncertainties. The actual future results and situations may therefore differ materially from those expressed or implied in any forward-looking statements. Such differences may be caused by various factors (including, but not limited to, developments in the oil and gas industry and related markets, currency risks and unexpected operational setbacks).
Any forward-looking statements contained in this announcement are based on information currently available to Fugro N.V.'s management. Fugro N.V. assumes no obligation to in each case make a public announcement if there are changes in that information or if there are otherwise changes or developments in respect of the forward-looking statements in this announcement.