KPMG sells interests in Atos Origin
KPMG member firms in the UK and the Netherlands have sold their entire shareholding in Atos Origin SA, the IT services provider, which bought the firm's consulting arms in 2002.
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.