CGG: agreement in principle on operated fleet.

(CercleFinance.com) - CGG has announced that it has reached an agreement in principle with its historic partner Eidesvik and its Scandinavian lending banks for the forthcoming implementation of a new retention of ownership for its operated fleet.


This new system is based on the creation of a new company which will own the five vessels now held by CGG and which have been shut down, in addition to the two vessels that are jointly owned by CGG and Eidesvik.

This company, to which all financing related to ships will also be transferred, will be equally owned by Eidesvik and CGG. It is expected to be operational at the beginning of Q2 2017.


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