What ever happened to this deal? Wasnt cgg going to sell it? Is it finalized or did it fall throuogh?
3 replies (most recent on top)
It would be interesting to find out what exactly the problem was with, "the final terms".
As an aside, the multi-physics group would be more profitable if it was independent of CGG. This is because various seismic companies will not use CGG multi physics, as that would be "giving money to the enemy". (ok don't take offense at the word enemy, substitute rival if you feel the need).
Thanks. Probably just as well. Unclear if neos is even still in business and we might be able to get a better price as the resource markets recover
It fell through a while ago. As stated on page 53 of the 2016 Form 20-F (www.cgg.com/data/1/rec_docs/3480_CGG-20-F_EN.pdf):
"On December 12, 2016, as the final terms of the discussion did not adequately
reflect our view of the value and the prospects of the activity, the agreement was terminated and consequently, the Multi-Physics Business Line remains within the Group."