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Shareholders approve CGG restructuring plan despite bondholders’ warnings

By Jessica McKay

14 November 2017

Shareholders approve CGG restructuring plan despite bondholders’ warnings

Paris, France iStock.com/halbergman

Shareholders of French geophysical services firm CGG have voted to approve its sauvegarde (safeguard) restructuring plan, despite protests from convertible bondholders who say it is “doomed to fail”.