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Fugro: acquires CGG stake in SBGS

(CercleFinance.com) - Fugro gained 1.
8% in Amsterdam after the announcement of an agreement with CGG, to transfer to the Dutch oil services group its 40% stake in joint venture Seabed Geosolutions (SBGS) by the end of the first quarter of 2020.

As part of the deal and to finalise funding and meet non-competition provisions, a payment of 35 million dollars is to be made to Fugro before 31 December 2019.

Including this outflow, CGG expects to generate positive net cash flow for 2019, exceeding its expectations.

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