CGG: CGG Announces the Closing of the Sale of the Multi-Physics Business on June 30, 2021
CGG successfully completed the sale of its Multi-Physics business (excluding processing and multi-client library) to Xcalibur Group, effective July 1, 2021.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
CGG successfully completed the sale of its Multi-Physics business (excluding processing and multi-client library) to Xcalibur Group, effective July 1, 2021. This transaction followed the necessary regulatory approvals. The divestment aims to streamline CGG's operations and focus on core geoscience technologies. CGG continues to operate globally with approximately 3,700 employees, providing a range of data, products, and services to tackle natural resource and infrastructure challenges.
Positive
- Sale of Multi-Physics business enables CGG to focus on core operations.
- Approval by regulatory authorities suggests compliance and readiness for strategic moves.
Negative
- Divestment may lead to reduced revenue from the Multi-Physics segment.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CGG Announces the Closing of the Sale of
the Multi-Physics Business on June 30, 2021
Paris, France – July 1st, 2021
CGG announced today that effective July 1, 2021 the Multi-Physics business except its processing and multi-client library, has been sold to Xcalibur Group, subsequent to receiving approvals by the competent regulatory authorities.
About CGG
CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).
Contacts
| Group Communications & Investor Relations Christophe Barnini Tel: + 33 1 64 47 38 11 E-Mail: christophe.barnini@cgg.com |
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