The board of directors of the heavily indebted Atos group announced on Tuesday that it would choose the takeover offer from the consortium led by Onepoint, its main shareholder, to the detriment of that of Czech businessman Daniel Kretinsky, considering it “better oriented towards the social interest of society.
“Atos will work with the Onepoint consortium (led by David Layani, Editor’s note) to reach a definitive financial restructuring agreement which will then be implemented through a dedicated accelerated procedure by July 2024,” the group indicated. French computer science, in a press release.
The offer benefits “from the support of a large number of Atos’ financial creditors and thus ensures with greater certainty the conclusion of a definitive financial restructuring agreement”, he added. The company, technological pillar of the Paris Olympics this summer, announced that it needed 1.1 billion euros in liquidity for its activity in 2024-2025 and wanted to reduce its gross debt by 3.2 billion euros, 4.8 billion euros, to safeguard its activity.
Debt cancellation of 2.9 billion euros
In competition with that of EPEI, from the Czech billionaire Daniel Kretinsky, allied to the Attestor fund, the offer led by David Layani, boss of Onepoint, allied to the businessman Walter Butler, the Econocom company and creditors, provides for debt cancellation of 2.9 billion euros, to be converted into equity.
“Subject to final adjustments”, it is accompanied by the contribution of 1.5 billion euros in the form of debt and a capital increase of 250 million euros, resulting in the following distribution of capital: 21 % for the consortium led by Onepoint and 9% for the bondholders.
At the same time, before the dissolution of the National Assembly, the French State repeatedly repeated its desire to acquire Atos’ activities deemed “strategic” (supercomputers used for nuclear deterrence, contracts with the French army and cybersecurity products), so that they do not fall into the hands of foreign actors.
The Ministry of the Economy also made a loan of 50 million euros to the company and acquired a “preferential share” allowing it to veto certain operations at the level of Bull, the subsidiary which builds its supercomputers.
Global IT partner of the International Olympic Committee (IOC) since 2002, Atos will be one of the technological pillars of the Paris 2024 Olympic Games (July 26-August 11), with the missions of managing accreditations, instant dissemination of results and even cybersecurity.