August 29, 2005
Compagnie Générale de Géophysique (“CGG”), announces that it has acquired approximately 60 percent of the share capital (4,066,650 shares) of Exploration Resources ASA (“Exploration Resources”).
On August 29, Willkie client Compagnie Générale de Géophysique (“CGG”) announced that it has acquired approximately 60 percent of the share capital (4,066,650 shares) of Exploration Resources ASA (“Exploration Resources”). CGG did not previously own any shares in Exploration Resources. Exploration Resources is an Oslo, Norway based marine seismic services company to the global oil and gas industry. CGG is a leading supplier of geophysical products and services to the worldwide oil and gas industry.
All shares were acquired at a purchase price of NOK 340 per share. CGG will make a mandatory cash offer for all remaining shares in Exploration Resources in accordance with the provisions of the Norwegian Securities Act. The offer price will be NOK 340 per share.
Willkie attorneys who worked on the matter are Laurent Faugerolas and Jeremy Scemama for the corporate aspects, and Marc Van der Woude and Jonathan Konoff for competition laws issues (excluding Norway).
