Hellman & Friedman-backed Gaz Transport & Technigaz eyes €675m IPO

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ship boat oil tankerHellman & Friedman-backed gas tanker hull lining manufacturer Gaz Transport & Technigaz has reportedly launched an IPO which could see it raise up to €675m.

The company, which is the world’s largest maker of cryogenic hull linings for liquefied natural gas ships, is offering 13.5 million shares at between €41 and €50 each according to Reuters.

It said the IPO was scheduled to close on February 25 with trading expected to start two days later.

US buyout house H&F bought a 30 per cent stake in GTT from Sapiem in 2008 for €310m.

Energy companies Total and GDF Suez are also significant backers of the business.

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