Temasek to buy Total’s stake in GTT

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:

• GDF Suez will hold approximately 40.4% of GTT’s share capital;
• Temasek will hold approximately 10.4% of GTT’s share capital;
• Management and employees will hold approximately 0.2% of GTT’s share capital;
• The public free float will represent approximately 49% of GTT’s share capital, among which circa 5% are held by Hellman & Friedman.

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Press Release; Image: GTT