2024-01-03 08:19:11
Published on Jan 3, 2024 at 8:51 a.m.Updated Jan 3, 2024 at 9:19 a.m.
Will Atos succeed in emerging from its negative spiral in 2024? The former French IT flagship announced this Wednesday that it had launched a “due diligence” phase (acquisition audit) with Airbus for the purchase of its BDS (Big Data & Security) activity. The deal might give Atos an enterprise value of up to 1.8 billion euros ($2 billion).
“Currently at a preliminary stage”, discussions concern “the entire BDS scope”, indicates the company in a press release. She adds that she received two letters indicating non-binding expressions of interest in her BDS activity. Thales SA was also considering an offer, the « Financial Times » . Atos shares jumped 11% at the opening of the Paris Stock Exchange.
Negotiations revised downwards with Daniel Kretinsky
Furthermore, the IT services group indicated that “the initially planned size of Eviden’s capital increase” would be reduced, as part of negotiations with the EPEI company of Czech businessman Daniel Kretinsky.
The Tech Foundations branch of Atos is to be sold to EPEI for 2 billion euros, in return for a 7.5% stake from Daniel Kretinsky in the cybersecurity division that Atos would retain, renamed “Eviden”. “The company is examining with EPEI the legal and financial conditions under which EPEI might be released, in whole or in part, from its commitment to participate,” specifies Atos.
The sale of additional assets envisaged
Atos is also planning two six-month extensions of its €1.5 billion loan, the first of which will take effect on January 29. It also indicates that it is in discussions with its banks in order to plan the repayment and financing of its debts, in particular through the sale of assets, including its BDS activity.
The company is considering the sale of assets “well beyond the 400 million euros mentioned in the press release of July 28, 2023, in order to honor its financing deadlines”. If the transaction with EPEI does not go through, the company is considering additional asset sales.
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