Integra Group reports that Integra Group, Schlumberger Oilfield Holdings Limited, Geotech Oil Services Holding Limited and IG Seismic Services Limited have completed the transaction announced on 9 November 2011 to combine IGSS, the entity through which Integra Group and Schlumberger conducted their land and transition zone seismic joint venture in Russia and the CIS, with GOSH's seismic business, conducted through Geotech Holding JSC.

The combination was effected through the transfer by GOSH of 99% of the issued share capital of Geotech Holding to IGSS in exchange for newly issued shares in IGSS. Following completion of the Transaction, Integra Group holds 36%, Schlumberger holds 12%, and GOSH holds 52% of the entire enlarged issued share capital of IGSS.

The Transaction was approved by Integra Group shareholders at the Extraordinary General Meeting held on 5 December 2011 and received required anti-monopoly approvals on 30 December 2011.

Tags: Integra Group