French oil and gas services company CGGVeritas (CGV) agrees to buy the seismic data unit of...

|About: CGG (CGG)|By:, SA News Editor

French oil and gas services company CGGVeritas (CGV) agrees to buy the seismic data unit of Dutch engineering firm Fugro for ~$1.5B. CGV says the deal would expand its access to oil and gas sites in Australia and Western Europe; Fugro’s seismic data division uses ships to locate potential new resource areas. CGGVeritas -6.9% in Paris, Fugro +2.5% in Amsterdam.