November 11, 2008
CGGVeritas, a leading international pure-play geophysical company, announces it has launched an exchange tender offer for Norwegian pure-play seismic company Wavefield Inseis, valued at approximately $310 million.
On November 10, it was announced that Willkie client CGGVeritas, a leading international pure-play geophysical company, announced it has launched an exchange tender offer for Norwegian pure-play seismic company Wavefield Inseis, valued at approximately $310 million. Wavefield’s Board of Directors unanimously welcomed the offer. The transaction, which allows CGGVeritas to strengthen the technology position of both its services and equipment businesses in the high-end market, is expected to be completed by year-end. CGGVeritas, traded on Euronext Paris and on the New York Stock Exchange, delivers a wide range of technologies, services and equipment to its broad base of customers mainly throughout the global oil and gas industry. Wavefield, traded on the Oslo Stock Exchange, provides a range of proprietary and non-exclusive multi-client marine geophysical services using highly specified vessels and the latest seismic equipment.
Willkie partner Laurent Faugérolas and special European counsel Etienne Boursican, with the assistance of associates Stéphane Huten, Karine Lenczner and Vanessa Zecchinel are advising CGGVeritas on the M&A and securities aspects of the transaction; and partner Jacques-Philippe Gunther, assisted by associate Faustine Viala, is advising on antitrust matters.