Atos creditors reach deal to rescue debt-laden group, La Tribune says

PARIS : Creditors have reached an agreement that would also rescue tech agency Atos, which secures communications for the French military and is determined to set a watch on cybersecurity for this summer season’s Paris Olympic Games, La Tribune newspaper reported on Saturday.

Atos had given itself unless Friday night to receive refinancing affords. Its financial difficulties had led the French negate to present to win a pair of of its strategic resources.

Under the agreement the bond collectors and banks which share Atos’ debt would inject 1.2 billion euros ($1.29 billion) of cash, doubtlessly with an industrial shareholder, and convert half of the debt into capital, the financial newspaper stated.

Atos stated on Monday it wished 1.1 billion euros in money to fund its firms over the 2024-25 period, in comparison with 600 million euros in a old estimate, due to the changing market cases.

The French negate announced remaining weekend it used to be prepared to win strategically indispensable resources from Atos, including its Developed Computing, Mission-Severe Systems and Cyber Merchandise.

The group manufactures servers for supercomputers capable of processing gargantuan portions of files for examine or to accomplish the nascent synthetic intelligence alternate.

In contemporary days French media has mentioned attainable suitors including Bain Capital, Thales, Dassault Aviation and Czech businessman Daniel Kretinsky who will probably be drawn to parts or all of Atos.

($1 = 0.9295 euros)