CGG: CGG Signed a Binding Offer for the Sale and Leaseback of its Headquarter Building
CGG has signed a binding offer with Pramena Investment & Anacap Financial Partners for the sale and leaseback of its headquarters, Galileo, located in Massy, France.
Sentiment and the balance of points
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Rhea-AI Summary
CGG has signed a binding offer with Pramena Investment & Anacap Financial Partners for the sale and leaseback of its headquarters, Galileo, located in Massy, France. The transaction is expected to close in Q2 2022. This strategic move is part of CGG's ongoing efforts to reduce costs and enhance its balance sheet, as stated by CFO Yuri Baidoukov.
Positive
- Sale and leaseback of headquarters aims to reduce cost base.
- Strengthens CGG's balance sheet.
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CGG Signed a Binding Offer
for the Sale and Leaseback of its Headquarter Building
PARIS, France – January 18, 2022
CGG announced today the signature of a binding offer with Pramena Investment & Anacap Financial Partners for the sale and leaseback of Galileo, its headquarter building located in Massy, France. Closing of this transaction is expected in Q2 2022.
Yuri Baidoukov, CGG CFO said: "We are pleased to announce this sale and leaseback agreement. This transaction emphasizes CGG's continuing efforts to reduce its cost base and strengthen its balance sheet.”
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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