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Tuesday, December 16, 2014
Technip says it will not make an offer for seismic firm CGGVeritas after talks between the two failed to result in anything concrete. Technip said in a statement it had put forward ‘a number of alternative options to a tender offer in discussions with CGG but failed to reach a deal. ‘Under these circumstances, Technip informs the market that it does not intend to file a tender offer for CGG,’ the company said. CGG had previously rebuffed a 1.47 billion euro ($1.82 billion) takeover offer from Technip in November.
While Technip may not be keen on CGGVertitas any longer, it did announce on December 15 that it had entered into an agreement with Air Liquide Global E&C Solutions Germany to purchase all of its Zimmer® polymer technology business.
The business includes technologies for the processing of polyesters and polyamides, research and development facilities, and a team of around 40 skilled engineers, researchers and project teams. The new polymers business will diversify and strengthen Technip’s portfolio of downstream technologies in its onshore segment.
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