Compagnie Generale de Geophysique Makes Announcement.Business Editors PARIS--(BUSINESS WIRE)--March 29, 2001 Compagnie Generale de Geophysique (NYSE NYSE See: New York Stock Exchange :GGY GGY Compagnie Generale de Geophysique (stock symbol) GGY Gross Gaming Yield (percentage of wagers kept by casino/gaming operator) ) (SRD SRD Suriname Dollar (ISO currency code) SRD Sustainable Resource Development (Alberta, Canada) SRD Short Range Devices (wireless networking) SRD System Reference Document :12016) has taken due note of the intentions of its shareholder Aker Maritime expressed in a press release dated March 28th 2001, announcing a merger project of its Oil and Gas Operations with Kvaerner. Under the proposed conditions, Aker Maritime would buy back the shares held by its minority shareholders by way of a distribution of CGG CGG Compagnie Generale de Geophysique CGG Cytosine-Guanine-Guanine CGG Canadian Grenadier Guards (Canadian reserve military unit) CGG Cancer Genetics Group (Birmingham, UK) and Kvaerner shares currently held by Aker Maritime and a payment in cash. According to additional information from Aker to CGG further to the above mentioned press release, this operation which should span across several months, would correspond to the distribution of approximately 1,000,000 CGG ordinary shares, or 8.5% of total equity, to the current Aker Maritime shareholders. CGG believes that the proposed operation would contribute to a further international diversification International diversification The attempt to reduce risk by investing in more than one nation. By diversifying across nations whose economic cycles are not perfectly correlated, investors can typically reduce the variability of their returns. of its shareholders base while increasing the total capital float, both of which are considered positively by the Company. |
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