France’s GTT said on Tuesday that Temasek of Singapore will be acquiring a circa 10.4% stake in the share capital of the company.
Total and Temasek entered into a definitive agreement for the acquisition by Temasek of Total’s entire remaining interest in GTT. During GTT’s initial public offering in February 2014, Total had previously reduced its shareholding from 30% to 10.4%. Completion of the transaction is expected in the coming days.
”We are pleased by Temasek’s acquisition of an interest in our capital, as a long-term shareholder. Its geographical roots and its experience in the LNG and marine industries fit perfectly well with the company’s strategy. ” declared Philippe Berterottière, Chairman and CEO of GTT .
Upon completion of the transaction, the company’s share capital will be allocated as follows:
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Press Release; Image: GTT