White & Case LLP has advised CGG, a fully integrated geoscience company, on its €350 million rights issue.

The rights issue is part of CGG's transformation plan and the net proceeds will be used to reinforce its shareholders' equity.

Bpifrance and IFP Energies Nouvelles, which hold together 10.62 percent of CGG's share capital, undertook together to exercise all their rights.

The offer was fully underwritten (excluding the Bpifrance and IFP Energies Nouvelles subscription commitments) by a syndicate of banks led by BNP PARIBAS and Credit Suisse acting as Global Coordinators, Joint Lead Managers and Joint Bookrunners.

CGG is listed on Euronext Paris and the New York Stock Exchange.

The White & Case team in Paris which advised on the transaction was led by partners Séverin Robillard and Thomas Le Vert with support from associates Tatiana Uskova, Boris Kreiss and Isabelle Touré-Farah. Partner Colin Chang and counsel Max Turner, with support from associate Jordan Zaluski, advised on matters of US law.