All articles tagged with #atos
French IT company Atos has secured $1.82 billion in funding through a lock-up agreement with over 50% of its creditors to restructure its debt. The company also obtained interim financing of 800 million euros to maintain liquidity until the restructuring is completed, expected by early 2025. Atos' shares rose by 10% following the announcement.
Shares of French IT firm Atos fell 14% as the company considers two rescue deals that will significantly dilute existing shareholders. The deals, led by Czech billionaire Daniel Kretinsky and key shareholder David Layani, are part of a months-long restructuring process. Atos aims to secure support from financial creditors by June 5 and finalize the restructuring in July. The company has been struggling with mounting debt and failed acquisition talks, including discussions with Airbus and the French government.
Atos is in talks with creditors for refinancing after canceling a €720 million rights issue, facing over €2 billion in debt payments next year. The company is also negotiating the sale of its Tech Foundations and BDS business, while its subsidiary Eviden is involved in building Europe's first exascale supercomputer system. Atos faces challenges in restructuring and managing its maturing debts, with potential changes to its capital structure that could impact existing shareholders.
French tech company Atos appoints CFO Paul Saleh as new CEO, warns of missing second-half cash flow target, and has yet to request creditor conciliation proceedings, leading to a 16% drop in shares. The company also welcomes Jacques-Francois de Prest as CFO and faces difficulties in negotiating the sale of its loss-making Tech Foundations arm.
Airbus is reportedly preparing a bid potentially worth up to €1.8 billion to acquire the cyber security unit of Atos, a digital transformation company. This move could significantly bolster Airbus's capabilities in the cyber security domain, aligning with the growing demand for digital security solutions in the aerospace and defense sectors.
Jean-Pierre Mustier, former CEO of UniCredit, is taking over as chairman of crisis-hit French IT consulting group Atos, as the company seeks to secure a contested deal with Czech tycoon Daniel Kretinsky. Mustier's appointment comes after Atos dropped plans to split the company and instead opted to sell its largest division, Tech Foundations, to Kretinsky. The deal has faced criticism from minority shareholders and French politicians. Atos shares initially jumped by over 20% but later reversed course. If the deal with Kretinsky fails, Atos may need to consider selling additional assets or accessing debt and equity markets to safeguard liquidity.
French IT services group Atos is set to replace its current chair, Thierry Breton, with Elie Girard, the company's current deputy CEO. The move comes as part of a planned leadership change, with Girard expected to take over as chair in 2022. Atos is a major player in the IT services industry, providing a range of solutions to clients worldwide.
Czech billionaire Daniel Kretinsky is in talks to acquire Atos's loss-making Tech Foundations business in a €2 billion ($2.20 billion) deal, allowing Atos to focus on its cybersecurity and cloud assets and reduce its debt. The sale would end Atos's initial plan to split the company into two listed entities. As part of the deal, Atos plans to raise €900 million through a share sale, with €180 million reserved for Kretinsky's EP Equity Investment, giving it a 7.5% stake in the new entity called Eviden. The sale would bring in €100 million in cash and reduce €1.9 billion in liabilities from Atos's balance sheet.