GTT Confirms Initial Public Offering

Gaztransport & Technigaz, the engineering company owned by GDF Suez (40%), Total (30%) and private equity fund Hellman & Friedman (30%), confirmed its intention to promote an initial public offering (IPO) in 2014. 

The possibility, which was already outlined last month by GDF Suez, would allow the company also known as GTT to increase its investments in the shipping sector.

Total and Hellman said they would sell part of their stakes in the IPO. 

The company is the top producer of cryogenic hull linings for tankers that carry Liquefied Natural Gas (LNG).