Engie Plans Hedging Through Forward Sale of ~5.38% Stake in GTT

Engie to fully hedge economic exposure relating to its residual stake in GTT, according to an emailed statement.

• Entered 18-month forward sale agreement with Morgan Stanley Europe SE and Natixis over about 2 million GTT shares
• Deals to allow Engie to sell, at maturity on Sept. 18, 2025, residual stake in GTT at a pre-agreed price
• Hedging banks to conduct private placement of GTT shares
  • Pre-agreed price based on the price of the offering
• Morgan Stanley Europe SE and Natixis also acting as joint global coordinators

To contact the reporter on this story:
Jenny Che in Paris at jche21@bloomberg.net

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