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OFS - CGG exits Seabed Geosolutions JV, leaving Fugro sole owner - January 2020

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Fugro and CGG have parted ways in their Seabed Geosolutions JV, with Fugro becoming the sole shareholder of the company. CGG will transfer its 40% interest in Seabed Geosolutions to Fugro by the end of 1Q20 and will also pay Fugro $35 million, which will be used to lower Fugro’s outstanding debt and strengthen Seabed Geosolutions’ balance sheet. Fugro said it still views Seabed as a non-core asset held for sale, and becoming the......
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