Fugro To Divest The Majority Of Its Geoscience Division To Cggveritas For Eur 1.2 Billion

Fugro N.V. (Euronext N.V.: FUR) and CGGVeritas (Euronext Paris: GA) announced today that they have signed an agreement under which CGGVeritas will acquire Fugro’s Geoscience division, excluding the multi client library and Ocean Bottom Nodes business, for a total cash consideration of EUR 1.2 billion.

Leidschendam, The Netherlands

24 Sep 2012

Controlling (60%) stake by Fugro in new Seabed Geophysics joint venture with CGGVeritas
Fugro continues to own multi client library, staff transfers to CGGVeritas
Global strategic partnership between Fugro and CGGVeritas
All-cash transaction with closing expected towards year-end 2012
Transfer of approximately 2,500 Fugro employees to CGGVeritas
Divestment consistent with strategic objectives

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