Brief: GC Rieber Shipping: Shearwater Signs Binding Term-Sheet With CGG

GC Rieber Shipping ASA

04/06/2019 06:04

June 4 (Reuters) - GC Rieber Shipping ASA  RISH.OL :
    * REG-GC RIEBER SHIPPING: SHEARWATER SIGNS BINDING
TERM-SHEET WITH
CGG FOR HIGH-END SEISMIC VESSELS AND CREATION OF GLOBAL LEADER
IN STREAMER TECHNOLOGY
    * SHEARWATER WILL TAKE OVER FIVE COMPLETE STREAMER SETS
OWNED BY
CGG
    * TERM-SHEET COVERS PURCHASE OF FIVE HIGH-END STREAMER
VESSELS
JOINTLY OWNED BY CGG MARINE RESOURCES NORGE AS AND EIDESVIK
OFFSHORE ASA BY SHEARWATER
    * TERM-SHEET INCLUDES AGREEMENTS FOR A FIVE-YEAR UTILIZATION
COMMITMENT FOR AN ANNUAL MINIMUM OF TWO VESSEL-YEARS OVER PERIOD
    * IT IS INTENTION OF BOTH COMPANIES TO EXECUTE FINAL
TRANSACTION
AGREEMENTS BEFORE END OF JUNE WITH CLOSING PLANNED BEFORE
YEAR-END

Source text for Eikon:  ID:nGNElWtsk 
Further company coverage:  RISH.OL 

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