This plan aimed at reducing the company’s colossal debt must be submitted on Tuesday to the Nanterre commercial court, as part of its safeguard procedure.
Debt of 5 billion euros
The French group with 90,000 employees worldwide is in debt to the tune of nearly 5 billion euros: for several years it has been experiencing a period of financial collapse coupled with a governance crisis.
Its restructuring plan, voted on at the beginning of September, was developed after the abandonment of the takeover by the main shareholder Onepoint and its manager David Layani.
In addition to debt relief of 3 billion euros, it provides for a capital increase and a “massive” dilution of the value of the shares. The company’s stock price, which left the CAC 40 in September 2021, has fallen by 90% since the start of the year and is now worth less than one euro.
“We have no choice, if there is no restructuring, it is the death of the company,” testified a union source.
The decision of the commercial court should be deliberated on a date still unknown at this stage, while Atos is at the same time faced with other major cases.
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