January 27th, 2015
Hellman & Friedman Successfully Sells its Remaining Holding in GTT’s Share Capital
PARIS, France
Gaztransport & Technigaz S.A. (ISIN FR0011726835 Euronext Paris: GTT) (“GTT”), the world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announces that H&F Luxembourg 1 S.à. r.l., an affiliate of Hellman & Friedman, has successfully 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 S.A. and GDF Suez S.A. In February 2014, GTT completed its successful initial public offering (“IPO”), representing a market capitalization of EUR 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 Hellman & Friedman said:
“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”
About GTT
GTT is the world leader in cryogenic membrane containment systems used in the shipbuilding industry for the transport of LNG. For over 50 years, GTT has offered to its customers technologies which allow them to optimize storage space and reduce the construction and operation costs of ships or tanks equipped with these systems. GTT operates in several sectors: LNGCs (Liquefied Natural Gas Carriers) and VLECs (Very Large Ethane Carriers), Multi-gas carriers, FLNGs (Floating Liquefied Natural Gas units), FSRUs (Floating Storage and Regasification units), onshore storage tanks and the use of LNG as a fuel. GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835 Euronext Paris: GTT) and is included in SBF 120 and MSCI Small Cap indices.
About Hellman & Friedman
Hellman & Friedman (“H&F”) is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, H&F has raised over $35 billion of committed capital. H&F recently closed on Hellman & Friedman Capital Partners VIII, L.P., the largest fund in the firm’s history, with $10.9 billion of committed capital. The firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including software, internet, digital & traditional media, financial services, business, marketing & information services, energy & industrials and healthcare. For more information on Hellman & Friedman, please visit www.hf.com.
GTT Contact
Cécile Arson, Chief Financial Officer: +33 1 30 23 42 06
Hellman & Friedman Contacts
Hugh Morrison of Monfort Communications
morrison@montfortcom.com
Mary Beth Grover of the Abernathy MacGregor Group
mbg@abmac.com