Atos chooses consortium with Onepoint for rescue
The board of the French group says yes to the proposal of its main shareholder
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Key points
1' min read
Atos charts the way out of the depths of the crisis. The board of the heavily indebted French It group announced that it would choose the rescue bid made by the consortium led by Onepoint, its main shareholder. The other bid on the table was that of Czech entrepreneur Daniel Kretinsky. The choice fell on Onepoint's offer because it was 'more oriented towards the company's interest'.
Atos 'will work with the Onepoint consortium (led by David Layani, ed.) to reach a final financial restructuring agreement, which will then be implemented through a dedicated fast-track procedure by July 2024', the French IT group specified in a statement.
The numbers
.The proposal calls for the conversion of EUR 2.9 billion of existing debt into equity and EUR 1.5 billion of newly issued debt, including EUR 300 million in bank guarantees. It also envisages EUR 250 million of new capital, of which EUR 175 million from the Onepoint consortium and EUR 75 million from creditors.
As indicated by the company in its previous communications, the implementation of the planned financial restructuring proposal will result in a massive dilution of Atos's current shareholders, who would hold less than 0.1 per cent of the share capital.
