GlobeNewswire Inc | Aug 6, 2020 02:45AM EDT

August 06, 2020

CGG Announces the Signature of an Agreement for the Sale of its Multi-Physics Business

Paris, France August 6, 2020

CGG announced today that it has entered into a Sale and Purchase Agreement (SPA) with Xcalibur Group for the sale of CGGs Multi-Physics business.

The SPA provides for the sale of CGGs 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.comandwww.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.

About CGG

CGG (www.cgg.com) is a global geoscience technology leader. Employing around 4,100 people worldwide, CGG provides a comprehensive range of data, products, servicesand equipment that supports the discovery and responsible management of the Earths natural resources. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).

Contacts

Group Communications & Investor RelationsChristophe Barnini Tel: + 33 1 64 47 38 11E-Mail:christophe.barnini@cgg.com

Attachment

-- CGG - Press Release pdf version