CGGVeritas (ISIN: 0000120164 – NYSE: CGV) Welcomes The Shareholders Agreement Between The FSI And IFPEN

Regulatory News:

The Fonds Stratégique d’Investissement (FSI) and IFP Energies nouvelles (IFPEN) announced today the signature of a shareholders’ agreement relating to their shareholding in CGGVeritas (Paris:GA) (NYSE:CGV), to implement a common policy on the matters relating to the Company.

CGGVeritas welcomes this decision by two of its main shareholders to conclude an agreement to support in common the long term strategy of the Company. The FSI and IFPEN will together own approximately 10.7% of the capital and 14.2% of the shareholders voting rights of CGGVeritas.

Jean-Georges Malcor, CEO, commented: « The presence of the FSI and of IFPEN in our capital secures the long term shareholders base of CGGVeritas. The signature of an agreement on a common vision of the long term growth and future of the Company between those two shareholders is a strong sign of recognition and support for the implementation of our strategy based on the development of high end technological products and services and value creation for all our shareholders. »

About CGGVeritas

CGGVeritas ( www.cggveritas.com ) is a leading international pure-play geophysical company delivering a wide range of technologies, services and equipment through Sercel, to its broad base of customers mainly throughout the global oil and gas industry. CGGVeritas is listed on the Euronext Paris SA (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares, NYSE: CGV).

The information included herein contains certain forward-looking statements within the meaning of Section 27A of the securities act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. Actual results may vary materially.

Copyright Business Wire 2010

If you liked this article you might like

CGG Veritas Stock Upgraded (CGV)

CGG Veritas Stock Downgraded (CGV)

CGG Veritas Stock Upgraded (CGV)

5 Trades to Find Gains in the Eurozone

CGG Veritas Stock Hits New 52-Week Low (CGV)

CGG Veritas Stock Hits New 52-Week Low (CGV)