between Daniel Kretinsky and David Layani, the time for big maneuvers – L’Express

An approach that is energetically supported by a last-minute guest at the negotiating table. Helped by the fall in the stock market price, the founder of Onepoint, David Layani, seized 9.9% of the capital of Atos at the beginning of November. Enough to propel him to the rank of largest shareholder. In doing so, the ambitious forty-something wants to influence the conditions of the deal concocted by the former president of Atos, Bertrand Meunier, whose “contempt” he has still not digested. Because this is not the first time that he appears in the Atos file: a year ago, his proposal to buy Eviden was sharply rejected by the board of directors. “This approach appeared to us to be uncredible for a company which claims a turnover of 500 million euros and which wants to buy a company worth 5 billion”, explained Bertrand Meunier to The gallery in September.

Very well introduced into the political world – too much, perhaps, since his proximity to Nicolas Sarkozy means he is involved in his legal affairs – David Layani today wants to push Daniel Kretinsky to pay more than the 100 million euros planned in the initial arrangement to acquire Tech Foundations. All this, by freeing him from his participation in Eviden. An exit route that would suit the Czech billionaire well, according to his close guard in France. If he agreed to take over the Tech Foundations part because of his experience “in infrastructures”, Daniel Kretinsky would have been pushed by the former president of Atos to take a share in Eviden which he would never have wanted.

Especially since its possible entry into the capital of the second branch of Atos has been causing a huge outcry for months. By indirect means, the hushed world of defense was moved by the irruption of a foreign shareholder into Eviden, arguing about the strategic nature of some of its activities. From January, the Senate Foreign Affairs and Defense Committee, chaired by elected LR Cédric Perrin, must launch an information mission on this transfer, in common with that of economic affairs.

In view of the current discussions, the former lawyer of Udaac – association of small shareholders of Atos –, Sophie Vermeille, attacks for her part on the LinkedIn network the fact that “Daniel Kretinsky was indeed forced to invest in Eviden in exchange for very advantageous conditions for the sale of Tech Foundations. And to call for the vigilance of the National Financial Prosecutor’s Office, with which two complaints have already been filed. The Czech businessman has certainly experienced better publicity.

In this stormy context, Atos management has given itself until the end of the year to conclude “final and binding agreements” with him. It is officially targeting the second quarter of 2024 to complete the operation and convene shareholders for a general meeting which promises to be tense. Many people continue to doubt the merits of the transfer, whether it is draped in its new financial trappings or not. “We really have to ask ourselves the question of the interest in selling to Mr. Kretinsky. Atos could quickly be worth double what it is today, if the group takes strong measures to reassure employees and the market. I am convinced that Atos can achieve 500 million euros in savings from 2024”, insists Hervé Lecesne, the largest of Atos’ small shareholders.

Among the company’s 100,000 employees, circumspection also dominates. Attached “to the uniqueness of the group”, the CGT delegate of Atos-Bull Didier Moulin notes, bitterly: “Atos has already sold its activities in Italy, its company EcoAct… 700 million euros of assets have already been sold and an additional 400 million were announced. In one year, we have already broken up a large group, but this has had no positive impact on its accounts, on the contrary.” In fact, Atos’ financial situation is increasingly critical. Loaded with a debt of 2.3 billion euros, the group saw its credit rating downgraded to “BB-” by S&P.

Assuming that the sale of Tech Foundations ends up being successful, it would not be enough to get Atos out of the rut, which would then rename itself Eviden. Although it is presented as the nugget of the group due to its activities in cybersecurity and the cloud, this branch also suffers from fragile health. Enough to explain that rumors around additional sales, such as that of the big data and cybersecurity division (BDS), are rife. They still need to make sense on an industrial level, to avoid further blocking the machine.

The new strong man at Atos, David Layani, simply says he is keen not to sell off these assets, he who positions himself as a “French and long-term anchor” for the former French flagship. But what is it really? Since November, his arrival in the capital of Atos and his eagerness to find an agreement with Daniel Kretinsky have been received with suspicion. His detractors fear that he is trying to take control of Eviden: hasn’t he always wanted to make Onepoint, 3,300 employees for 500 million turnover, a French champion of digital services?

Once the time of the emergency has passed, David Layani is not ruling out any of the options that could be available to him: an increase in capital, a takeover… “Nothing is excluded,” assures those around him. The securing of €500 million from asset manager Carlyle is timely. And too bad if it’s an American fund.