Engie: successful placement of GTT shares

(CercleFinance.com) - Engie announces the successful placement, via hedge banks, of 1,994,107 GTT shares at a price of E137 per share, as part of the group's hedging of its economic exposure in respect of its residual stake of around 5.
38% in GTT.

The energy group points out that it has entered into 18-month forward sales contracts with Morgan Stanley Europe and Natixis (hedge banks) relating to these shares in the engineering company.

These forward sales enable Engie to sell, at maturity, its residual stake in GTT at a predetermined price, while retaining full ownership of this stake and the related voting rights until the sale at maturity.

The shares sold to institutional investors as part of the placement by the hedging banks are borrowed by them on the market. The placement's settlement and delivery of is expected to take place on 18 March.


Copyright (c) 2024 CercleFinance.com. All rights reserved.