Another great operation in France for Daniel Kretinsky. Already involved in the rescue of the distributor Casino, the Czech billionaire should acquire the historic and heavily indebted branch of the French computer group Atos. The agreement was announced on Tuesday, August 1, and remains subject to shareholder approval for the time being.
Nothing was going well for Atos for a few years. Since the departure of its CEO Thierry Breton for the European Commission in 2019, the digital services group with 110,000 employees has been facing a dizzying drop in its valuation and poor commercial and financial results. The company was also plagued by internal divisions over how to turn the group around between the historic board and some disgruntled shareholders.
Despite these tensions, the choice was made to split the group’s main activities into two. Atos was thus to sell the assets relating to outsourcing (the maintenance of computer equipment), in structural decline, grouped under the flag of Tech Foundations. With the aim for the group to focus on its more dynamic activities around the cloud, big data and cybersecurity, grouped under the flag of Eviden.
Target companies in difficulty
Negotiations with Daniel Kretinsky for the acquisition of Tech Foundations were confirmed in March. If the operation comes to an end, at the latest in the first quarter of 2024, one of the companies of the Czech businessman will take control of the historical branch, composed of nearly 52,000 employees worldwide and generating still today more than 50% of the group’s overall turnover. It should also keep the Atos name.
Daniel Kretinsky will also invest 217.5 million euros to enter the capital of Eviden, thanks to a recapitalization operation of 900 million euros. The Czech billionaire also wants to include in the operation the company Fimalac of the businessman Marc Ladreit de Lacharrière, with which he is already associated in the framework of the rescue of Casino.
Daniel Kretinsky’s presence in the French market continues to grow. In addition to Casino, he is in the process of taking over the publisher Editis from Vincent Bolloré, owns shares in the Fnac-Darty group, and is also extending his influence in the media (Marianne, Elle, Télé 7 jours, Usbek & Rica). Its strategy is clear: target sectors or companies in difficulty to extend its influence. Atos is no exception to the rule.