Atos collapses on the stock market, Alten could buy a strategic subsidiary

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While Atos’ share price fell by more than 20% on Wednesday 12 May, the group is witnessing the purchase of its Worldgrid subsidiary by Alten. This negotiation could be completed by the end of 2024, while the Altos still have to play an important role during the Olympics.

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– The company wants to reduce its gross debt by 3.2 billion euros to ensure its operations.

The share price of Atos IT group fell by more than 20% Wednesday on the Paris Stock Exchange after the announcement negotiations exclusive agreement with Alten to sell its strategic subsidiary Worldgrid. At around 9:50 a.m., down 0.39% on the market, Atos was down 21.06%, with the stake worth only 76 centsand thus reached its all-time low. Since January 1st, the stock has almost lost 90% its values.

Atos, in the midst of a financial restructuring, indicated on Tuesday that it had chosen a takeover bid from a consortium led by One point, its main shareholder headed by David Layani, at the expense of Czech billionaire Daniel Křetínský. A few hours later, the group announced that it had entered into exclusive negotiations with Alten to sell (“for compelling corporate value 270 million euros») of Worldgrid, its highly critical subsidiary that designs control systems for nuclear power plants, notably EDF.

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Atos chose Onepoint for its financial restructuring: a decision welcomed by employees and creditors

Pillar of the Olympic Games

This operation should be completed before end of 2024AND “would allow us to deepen our relationships with our strategic clients, especially in the area nuclearby offering them an unrivaled range of value-added services”, stressed Alten boss Simon Azoulay, quoted in the press release. Before the dissolution of the National Assembly, the French State, through the Ministry of the Economy, reiterated its intention to acquire the activities of Atos for “strategic”so that they do not fall into the hands of foreign actors.

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Atos, global IT partner of the International Olympic Committee (IOC) since 2002, will be one of pillars technology of the Paris 2024 Olympic Games through accreditation management, instant dissemination of results or questions cyber security. Atos, mired in a financial crisis for almost three years, began bankruptcy proceedings in February. restructuring. The company announced that it needed 1.1 billion euros liquidity for 2024-2025 and want to reduce their gross debt by 3.2 billion euros, which reached 4.8 billion eurosto secure its activity.

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