Ownership of surveying firm, ATIS Real Weatheralls, is set for a dramatic change with French bank, Paribas, coming in as a new investor in the company.
ATIS, which is currently owned by venture capitalist, VendÃÂ´me Rome, is working on a refinancing process that will see Paribas take a stake in the company. As a result, French bank, Credit Lyonnais, one of two major shareholders, will reduce its stake in ATIS.
Chief Executive, Greg Cooke, stated that the majority shareholding would remain with VendÃÂ´me Rome, with only a 50% likelihood that the deal would take place.
Cooke denied that the venture capitalists have been trying to sell either all or part of the business, saying that VendÃÂ´me remained committed to ATIS.
ATIS comprises three main elements: Weatheralls in the UK; Auguste Thouard in France; and Muller in Germany.