CGGVeritas Spends $1.56B For Fugro Geosciences Unit

Law360, New York (September 24, 2012, 12:12 PM EDT) -- French oil and gas services company CGGVeritas has agreed to purchase the geosciences division of Dutch energy survey and geotechnical company Fugro NV for €1.2 billion ($1.56 billion), both companies announced Monday.

With the deal, Paris-based CGGVeritas will assume a leading position in the global integrated geophysics market and beef up its energy services resources, the buyer said. The all-cash deal will in turn strengthen Fugro's balance sheet and allow it to focus on its core businesses in the geotechnical and survey markets, according to the...
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