Norwegian Energy Data Companies PGS, TGS Complete Merger
Transaction Type
Sellers
Buyers
Announce Date
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Description
Norwegian companies PGS and TGS completed a merger to create a full-service energy data company.
The combination, announced in September 2023, is expected to create a full-service geophysical data company with offerings in streamer data acquisition, ocean bottom node data acquisition, imaging and new energy data.
Under terms of the agreement, TGS shareholders would earn approximately two-thirds of the new company’s shares, and PGS shareholders approximately one-third of the new company. The TGS consideration shares will be delivered to eligible former PGS shareholders on July 4.
The cash consideration of the transaction will be paid on July 9.