X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-ATIS REAL Weatheralls faces a major shakeup of its ownership structure with French bank BNP Paribas set to take a stake.

Paribas is in talks with majority owners Vendome Rome and Credit Lyonnais (now part of Credit Agricole) about refinancing ATIS. If the talks are successful, Paribas would take a stake in the company, while fellow French bank Credit Lyonnais would reduce its holding.

ATIS REAL Weatheralls’ chief executive Greg Cooke says the talks were at a “very early stage and for a minority stake in the business initially”. But already there is speculation that Paribas could increase its stake over time.

The market had been abuzz with rumors that the venture capitalists were trying to sell all of the business, or parts of it. Cooke denies this was the case, saying Vendôme remained firmly committed to ATIS.

He says: “This is a restructuring of the finances and certainly not a takeover. We are reorganising the shareholdings.” Cook adds: “Credit Lyonnais, Vendome Rome and the other French institutional shareholder that own the business are all keeping stakes. It is simply a case of some of the shareholders diluting their stakes to give BNP a holding.”

The Paribas involvment is likely to see a cash injection into ATIS estimated at “tens of millions”.

Vendome Rome, the Michel Moubayeda led French investment, took control of the £60 million ($99.8 million) French agent Atis Auguste Thouard and the 370-strong Muller in 2000. The following year it acquired Weatherall Green & Smith. BNP Paribas would only confirm that it was considering investing in the company

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.