France: GTT Shareholders Plan IPO in February

GDF Suez, Total and private equity firm Hellman & Friedman plan a February IPO for Gaztransport & Technigaz (GTT), the world’s largest maker of storage tanks for LNG tankers, Les Echos reported.

The shareholders had not yet decided how much of their stakes they wanted to sell, the newspaper said.

GDF Suez has a 40 percent stake in GTT, while Total and Hellman & Friedman own 30 percent each.

GTT was formed in 1994 by the merger of the two major players in the field of LNG membrane containment systems: Gaztransport and S.N.Technigaz, resulting in a cumulative experience of more than 80 years in the field of cryogenics and storage of liquefied gases.

GTT’s two main areas of expertise are cargo containment systems (CCS) for LNG carriers and land storage of LNG.

[mappress]
LNG World News Staff, November 19, 2013; Image: GTT