French seismic survey group CGG will hold a board meeting in the coming hours to decide whether to launch a capital increase or attract new investors to finance a planned reorganization, sources told Reuters on Dec. 3.
The sources said a formal announcement was expected early next week. CGG had no comment.
Hurt by decreasing exploration budgets in the oil and gas industries, CGG said in November it was considering the sale of non-core assets as well as a possible rights issue.
French public investment bank BPIFrance, which holds a 7.04 percent stake in CGG, according to Thomson Reuters data, said last month it was supporting CGG's efforts.
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