Singapore: French energy giant Total has entered into a definitive agreement for the acquisition by Singapore sovereign fund Temasek of Total’s entire remaining stake in GTT (Gaztransport & Technigaz), representing 10.4% of the company. In February 2014, during GTT’s initial public offering, Total reduced its shareholding from 30% to 10.4%.
GTT is a supplier of cryogenic membrane containment systems used in the shipbuilding industry for the transport of LNG.
Temasek’s move comes as the Lion Republic aggressively positions itself as Asia’s LNG trading hub. [09/12/14]