CGG announced today that it has entered into a Sale and Purchase Agreement (SPA) with Xcalibur Group for the sale of CGG’s Multi-Physics business.
The SPA provides for the sale of CGG’s entire Multi-Physics business, except its multi-client library, and is subject to approval by the competent regulatory authorities.
The closing of this transaction is expected in Q4 of this year.
About Xcalibur Airborne Geophysics Group (XAGG)
XAGG (www.groupxcalibur.com and www.xagsa.com) is a worldwide leading provider of ultra-high resolution for Magnetics-Radiometrics regional and detailed airborne geophysical services, being the leading provider in Africa, with offices in Spain, South Africa and Colombia.
CGG (www.cgg.com) is a global geoscience technology leader. Employing around 4,100 people worldwide, CGG provides a comprehensive range of data, products, services and equipment that supports the discovery and responsible management of the Earth’s natural resources. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).