Come off it! Robertson would have been bankrupt years ago without CGG cash. Even now were still heavily reliant on MCNV jumpstart projects propping us up! Robertsons future would not be brighter if it was let go, it would simply not survive at all!
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Robertson would be in profit if it weren't paying the cripplingly high overheads to CGG for expensive and very inefficient centralised services.
No, the other way, CGG future will be brighter.
In answer to:
I'll give you a chance to shine, what did you offer CGG for their money? Educate me...
Nothing! Everything has a price, a right time to buy, to invest and to consolidate / M&A and IPO.
Robertsons may not be a target anyway, but when its time to break up CGG you will find interested parties sifting through the debris.
Part of CGG's current problems are that they were obsessed with buying other companies, even if they were rubbish. The biggest pile of **** they invested in was probably Wavefield.
According to CGG they have 5400 employees over the world. Of these, 1600 (~30%) are located in France. I know there is nothing going on there in term of oil exploration in order to justify the presence of that many employees in France. Just for curiosity, what are the 1600 employees are doing in France?
Never really saw the point of this acquisition. Little technology, office located in a pointless location, the only thing it had was some good yet out of date docs publically available on the website.
Seemed a lot of money for old rope.
I'll give you a chance to shine, what did you offer CGG for their money? Educate me...
No, luckily they are with CGG because they have been struggling for a while too. If they were a separate company they would've been out of business a while ago. At least with CGG they can survive as long as CGG is able to borrow money from its creditors.
You are crediting CGG with some kind of choice over this. Robertsons are used to managing themselves (albeit as a portfolio entity of Fugro). Buyers like this. Any interested buyer will soon be able to approach the bondholders and say 'how much do you want for it?' The buyer can take it away and it will stand on its own. same with Hampson Russell and Jason - I understand there may be others.
As usual with these situations the existing management would deny this as possible - and they are right but probably not for very long.