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CGG : SUPPORT FOR CGG'S PLANNED CAPITAL INCREASE

PARIS, Dec. 7, 2015 (GLOBE NEWSWIRE) -- Following the announcement made this morning concerning its proposed capital increase, CGG welcomes the support of Bpifrance, a 7.04% shareholder, which has just announced that it plans, alongside IFP Energies Nouvelles, to subscribe to this capital increase at the level of the current shareholding of the two parties acting in concert, i.e. 10.62% of the capital, subject to the final terms of the transaction which will be determined during the effective launch of the capital increase.

Furthermore, CGG has been informed that Total intends to support, if necessary, CGG's capital increase, which will be submitted to the approval of its shareholders, up to a maximum amount of €35m, subject to the final terms of the transaction which will be determined during the effective launch of the capital increase.

About CGG

CGG (www.cgg.com) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business Segments of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs over 7,000 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.

CGG is listed on the Euronext Paris SA (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares). (NYSE:CGG).

Contacts

Group Communications
Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: : invrelparis@cgg.com
Investor Relations
Catherine Leveau
Tel: +33 1 64 47 34 89
E-mail: : invrelparis@cgg.com

Press Release - pdf version http://hugin.info/142000/R/1971921/721141.pdf

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Source: CGG