* 414 mln eur issue to fund 1.2 bln eur Geoscience acquisition
* Shareholder FSI will subscribe to capital increase (Adds details)
PARIS, Sept 26 (Reuters) - CGGVeritas said on Wednesday it is raising funds to help finance the planned acquisition of the seismic data division of Dutch engineering company Fugro with a 414 million euro ($536.64 million) rights issue.
The French surveyor of oil and gas fields said it would use the proceeds of the capital increase to fund its existing debt if the acquisition is not achieved.
CGGVeritas said on Monday it would buy Fugro’s Geoscience unit for 1.2 billion euros ($1.56 billion) in cash to boost the number of its services for the oil and gas sectors.
Each shareholder of CGGVeritas will receive one preferential subscription right for every share held on Sept. 27 at a price of 17 euros per share on the basis of 4 new shares for 25 existing shares, the company said.
The subscription price represents a 33 percent discount to the closing price of the company’s shares on Sept. 25.
Fonds Strategique d‘Investissement, the private equity and venture capital arm of France’s Caisse des Depots et Consignations which holds a 6.49 percent stake in CGGVeritas, said it would subscribe to the capital increase.
It will also acquire the subscription rights of shareholder IFP Energies Nouvelles, which is not taking part in the rights issue.
$1 = 0.7715 euros Reporting by Elena Berton