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    Fugro in discussions with Thales regarding acquisition of Thales GeoSolutions

    News // August 1, 2003
    Fugro has announced that it has entered into negotiations with Thales SA on the acquisition of the major part of Thales SA's geosolutions business.

    Thales GeoSolutions, with its headquarters in Chessington, UK, is a global provider of survey, geotechnical and ROV services, operating mainly in the oil and gas market.

    Fugro believes that an acquisition of Thales GeoSolutions would strengthen its global capabilities and would generate synergies with its own network of offices around the world and provide more efficient services to its clients.

    The acquisition would be financed through bridge loan facilities.

    Thales and Fugro have not reached as yet definitive agreement on a possible transaction.

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