Brief: PGS And TGS Announce Execution Of Definitive Merger Agreement

PGS ASA

25/10/2023 21:04

Oct 25 (Reuters) - Pgs Asa  PGS.OL :
    * REG-PGS AND TGS EXECUTE DEFINITIVE MERGER AGREEMENT
    * TGS AND PGS SHAREHOLDERS WILL OWN APPROXIMATELY 2/3 AND
1/3 OF
COMBINED COMPANY, RESPECTIVELY
    * TRANSACTION IS NOT SUBJECT TO FURTHER DUE DILIGENCE OR
FINANCING
    * CONSIDERATION WILL BE PROVIDED TO PGS SHAREHOLDERS IN FORM
OF
0.06829 ORDINARY SHARES OF TGS FOR EACH PGS SHARE HELD
    * MERGER TO BE STRUCTURED AS STATUTORY, TRIANGULAR MERGER
BETWEEN
TGS NEWCO AS TGS & PGS IN ACCORDANCE WITH CHAP 13 OF NORWEGIAN
COMPANIES ACT

Source text for Eikon:  ID:nGNE321LTv 
Further company coverage:  PGS.OL 

 ((Reuters.Briefs@thomsonreuters.com;))