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H&F sells remaining holding in GTT

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LNG Industry,


H&F Luxembourg 1 S.à.r.l., an affiliate of Hellman & Friedman (H&F), has successfully completed the sale of its remaining holding in the share capital of Gaztransport & Technigaz S.A. (GTT) in a private placement to institutional investors.

H&F acquired its stake in GTT in 2008 and became a shareholder alongside Total S.A. and GDF SUEZ S.A. GTT completed its successful initial public offering (IPO) in February 2014, representing a market capitalisation of €1.7 billion.    

Philippe Berterottière, CEO of GTT, said: "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."

Patrick Healy, Managing Director and Deputy CEO of H&F, added:  "The sale of our remaining stake in GTT brings a conclusion to H&F's partnership with GTT starting with our investment in 2008 and the highly successful IPO in February 2014. The excellence of the GTT business and financial profile generated a strong return for all investors without the use of financial leverage.

Our investment could not have succeeded without the superb contribution of Philippe Berterottière, his management team and GTT's engineers and employees. We are extremely grateful to them and believe that GTT has a strong future under their stewardship. 

We are also grateful to Total and GDF Suez for their invaluable partnership over the last 7 years. GTT is an excellent example of a successful, long-lasting corporate partnership that has delivered an outstanding outcome for all stakeholders."


Adapted from press release by

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/27012015/hellman-and-friedman-sells-remaining-holding-in-gtt-117/


 

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