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Atos seeks over $1 billion in new funds 

Atos, the crisis-hit French IT company, is reportedly seeking over 1 billion euros ($1.09 billion) in fresh funds from creditors and bondholders. 

According to sources familiar with a new restructuring plan, Atos aims to convert approximately half of its $5 billion debt into equity. This plan was revealed during a confidential meeting held on Monday. However, it remains unclear who will provide the cash infusion and how the terms of the remaining debt will be renegotiated, as per the Bloomberg report.

Once a leading French CAC 40 blue-chip company, Atos has experienced a significant decline in its stock price, plummeting by over 90% over the past three years. This downturn follows a string of strategic errors, operational challenges, and governance issues. 

Given Atos’ involvement in cybersecurity and supercomputing, the French government is closely monitoring the company’s situation. Prime Minister Gabriel Attal recently emphasized that preserving the financial stability of Atos remains a priority for the government.

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BRL Editorhttps://businessreviewlive.com
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