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

Paris, France | Aug 6, 2020

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

The SPA provides for the sale of CGG’s 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.com and www.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.