Troubled French outsourcer Atos faces turmoil as two board members quit.
David Layani and Helen Lee-Bouygues resigned immediately after Onepoint’s withdrawal from Atos’ share capital and restructuring talks.
The consortium comprising Onepoint, Butler Industries, and Econocom has abandoned restructuring talks with Atos, posing a significant setback.
Earlier, Atos had accepted the consortium’s proposal to convert €2.9 billion of existing debt into equity.
In response to the consortium’s exit, Atos received a revised financial restructuring proposal from its bondholders’ representative committee (SteerCo).
Atos is currently engaged in high-stakes negotiations with SteerCo and select banks to reach an agreement swiftly.
The company Atos finalised an agreement with the French State to safeguard sovereign interests in specific activities within the Atos group.
The French State has proposed a deal that could significantly alter Atos’ future. They propose to acquire 100 percent of Atos’ Advanced Computing, Mission-Critical Systems, and Cybersecurity Products activities for €700 million, citing concerns that this technology could fall into foreign hands.
Atos is currently grappling with a complex web of challenges involving private investors, bondholders, and government stakeholders as it strives to restructure and secure its financial future.
