KPMG sells interests in Atos Origin

Link: KPMG sells consultancy to Atos Origin

The consulting arms were sold to Atos Origin SA on 16 August 2002 in a transaction valued at ? ¬657m (£454m), which was paid in a combination of cash and instruments convertible into shares of Atos Origin SA. The deal created a top five European IT consultancy, with fees of £2.4bn.

Those instruments were converted into shares on August 16th, 2003 and a total of 1,871,359 shares were privately placed.

At the time of the transaction, KPMG committed to the SEC that it would dispose of the shares within 3 years of the date of the transaction.

Related reading