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, Vendôme 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 Vendôme 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 Vendôme remained committed to ATIS.
ATIS comprises three main elements: Weatheralls in the UK; Auguste Thouard in France; and Muller in Germany.
