South Korea Shipbuilders Mull Bid for PE-backed GTT

Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries are mulling a joint bid for French engineering company GTT, which is part-owned by U.S. private equity fund Hellman & Friedman. The company is valued at 1 billion euros ($1.27 billion), Reuters reported Sunday. GTT's three shareholders -- GDF Suez, the world's biggest utility by market value, French oil company Total and Hellman & Friedman -- are planning to sell their stakes, Reuters wrote.

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