Hellman & Friedman sells remaining stake in GTT
Gaztransport & Technigaz (GTT), the French maker of LNG containment membranes, said that Hellman & Friedman, has completed the sale of its remaining holding in the share capital of GTT in a private placement to institutional investors.
Hellman & Friedman acquired its stake in GTT in 2008 and became a shareholder alongside Total and GDF Suez.
In February 2014, GTT completed its initial public offering (IPO), representing a market capitalization of EUR 1.7 billion.
“We have been delighted by the participation of Hellman & Friedman in GTT and with their very professional involvement in the impressive evolution that GTT has experienced over recent years,” Philippe Berterottière, CEO of GTT, said in a statement.