This {photograph} taken on April 26, 2024 reveals the headquarters of the French multinational info know-how firm ATOS in Bezons, close to Paris. (Photograph by Ludovic MARIN / AFP) (Photograph by LUDOVIC MARIN/AFP by way of Getty Pictures)
Ludovic Marin | Afp | Getty Pictures
Shares in beleaguered French IT firm Atos fell near 12% on Tuesday after the agency stated it had chosen a rescue deal, which is about to end in a significant dilution of present shareholders.
Shares had been final down 11.97% as of 9:52 a.m. London time.
Atos stated it could go forward with a proposal by main shareholder David Layani, whose IT agency Onepoint held round 11% of Atos’ share capital and voting rights as of December 2023 in line with its web site. Atos was additionally contemplating a rival provide from Czech billionaire Daniel Kretinsky.
The deal will nonetheless result in a “massive dilution” of present shareholders, who’re set to carry lower than 0.1% of share capital as soon as it’s accomplished, Atos stated.
Atos stated Layani’s deal included a stronger capital construction and offered the agency with sufficient monetary liquidity to remain in enterprise.
“The proposal submitted by the Onepoint consortium also has the support of a large number of Atos’ financial creditors and thus gives greater confidence that a definitive financial restructuring agreement will be reached,” the corporate stated.
Layani on Tuesday stated the deal companions wished to enhance Atos’ steadiness sheet and be certain that the corporate turns into a significant worldwide participant within the tech sector, Reuters reported.
Layani’s deal is fronted by Onepoint, in addition to funding firm Butler Industries, IT firm Econocom and a few of Atos’ monetary collectors. It’s anticipated to be applied by July.
Atos
Atos is managing information and cybersecurity for the Paris 2024 Olympics and holds numerous delicate contracts with the French army and different authorities.
It has been dealing with mounting monetary troubles, together with hovering debt, for a while, with its web debt standing at 3.9 billion euros ($4.2 billion) on the finish of the primary quarter.
Atos has been in discussions about numerous offers all through its monetary hardships, with a number of main firms together with Airbus exhibiting curiosity. Earlier this 12 months Atos additionally stated it had obtained a letter of intent from the French authorities to accumulate components of its enterprise.
