Atos, the French technology company, has announced a proposal following a financial restructuring plan due to financial difficulties and high outstanding debts. The main investor group, Onepoint, aims to inject €250 million in capital in exchange for company shares, along with an additional €1.5 billion loan and facilitating the conversion of the company’s €2.9 billion debt into shares. This restructuring plan is expected to be completed by July 2024, but it leads to a significant dilution of existing shareholders’ stakes.
Previously, Atos sold its Big Data and Security business to the French government for a deal worth €1 billion, citing the connection to national security. Atos serves clients like the French military and nuclear power plants and is also responsible for the security systems for upcoming Olympic events.
Source: The Wall Street Journal and Atos
TLDR: Atos is undergoing a financial restructuring plan led by Onepoint, involving capital injection, loan agreements, and the divestment of certain business divisions, leading to a dilution of existing shareholders’ stakes.
Leave a Comment