France’s Total sold its remaining 10.4 percent stake in Gaztransport & Technigaz (GTT) Tuesday to Singapore’s Temasek Holdings for an undisclosed sum.
GTT is an engineering firm that designs cryogenic membrane containment systems used in the shipbuilding industry for the transport of LNG.
The transaction is expected to be complete in the coming days.
In February, Total reduced its stake in GTT from 30 percent to 10.4 percent during GTT’s initial public offering.
Total said it earned $650 million from the sale of its entire stake in France-based GTT.
“With this transaction, Total continues to unlock significant value from its portfolio and to focus on its strategic assets,” Total’s president of upstream, gas and power Yves-Louis Darricarrère said.
The sale is part of Total’s larger asset sale program that has brought in about $30 billion since 2010.
The company expects to sell about $10 billion in assets from 2015 to 2017, Reuters said.