September 5, 2006
Compagnie Generale de Geophysique agrees to acquire Veritas DGC Inc. for approximately $3.1 billion in cash and stock.
On September 5, it was announced that Willkie client Compagnie Generale de Geophysique (CGG) has agreed to acquire Veritas DGC Inc. for approximately $3.1 billion in cash and stock. The merger will create a global seismic company offering a broad range of seismic services and geophysical equipment across all markets. It will operate the world's leading seismic fleet with 20 vessels, including 14 high capacity 3D vessels and equivalent land crews in both the Western and Eastern hemispheres. With a combined worldwide workforce of approximately 7,000, the new group will provide seismic technology and services to a range of customers including independent, international and national oil companies. The deal was handled by partners Laurent Faugéolas and Stéphane Sabatier, and special European Counsel Etienne Boursican and Jon Lyman.