Atos Creditors Reach Deal to Rescue Debt-Laden French Firm

Creditors have brokered an agreement that could potentially salvage tech firm Atos, responsible for securing communications for the French army and slated to oversee cybersecurity for the upcoming Paris Olympic Games, as per La Tribune newspaper's report.

There are numerous prospective buyers for Atos. I Photo: Atos

Facing financial distress, Atos had set a deadline of Friday evening to receive refinancing offers. The French government had stepped in, offering to acquire some of its strategic assets amidst the turmoil.

Under the agreement, bond creditors and banks sharing Atos' debt would inject 1.2 billion euros ($1.29 billion) in cash, potentially with involvement from an industrial shareholder, while also converting a portion of the debt into capital, as reported by the newspaper.

Prospective buyers for Atos include Bain Capital, Thales, Dassault Aviation, and Czech businessman Daniel Kretinsky, expressing interest in various segments or the entirety of the company.