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    CGGVeritas acquires minority interest in Eastern Echo

    News // November 12, 2007

    CGGVeritas has announced that it has acquired 30.9 million shares of Eastern Echo Holding for a total consideration of approximately NKr 431 million, representing 12.67 per cent of Eastern Echo’s issued share capital.

    "Our intent, with this minority stake, is to best position the CGGVeritas Group, and especially Sercel, for continuing co-operation with Eastern Echo in the expanding seismic market," said CGGVeritas.

    Last week, as reported in Offshore Shipping Online, Eastern Echo rejected a bid to take control of the company by Schlumberger.

     

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