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    Ferd invests in PGS

    Company News // December 18, 2014
    Bloomberg reports that Norway’s Johan H Andresen has more than doubled his stake in Petroleum Geo-Services (PGS) after the seismic surveyor’s market value fell by almost half this year, becoming the biggest owner with 10.1 per cent.

    Ferd AS, owned by Andresen and his family, recently acquired 11.3 million shares in PGS, boosting its total holding to 22 million shares, PGS said in a statement.

    “Ferd AS considers PGS to be a strong company,” PGS said in the statement. “There are substantial underlying values in the company both in terms of a modern and cost-efficient fleet, an attractive multiclient library and a strong technology platform, making PGS well-equipped to continue to develop its position as a leading global player also in a challenging market.”

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