David Layani strikes nearer to settlement with collectors | EUROtoday
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Lhe path in the direction of a takeover of Atos by David Layani appears to be taking form. According to data from Echoesthat Point is ready to affirm, an settlement is about to be reached between, on the one hand, the consortium shaped by the French OnePoint (managed by David Layani), the most important shareholder of Atos, and its companions Butler industries and the European Econocom, and, then again, the collectors of the worldwide IT companies big.
This settlement in precept stipulates a cancellation of 57% of Atos' debt (2.8 billion euros out of a complete of 4.9 billion euros). This is a billion euros greater than what collectors had been prepared for just some days in the past.
According to our data, all of the holders of the bonds issued by Atos have signed this settlement, and a gaggle of creditor banks representing two thirds of the financial institution debt is in discussions to affix the settlement.
To be quite a few sufficient to seal a takeover by David Layani, the collectors collaborating within the settlement should deliver collectively two thirds of Atos' complete debt (financial institution and bond debt mixed).
In this case, based on the takeover supply proposed by the consortium, a capital enhance of 30% could be carried out. The distribution of this 30% between the members of the consortium and a number of the collectors stays to be outlined.
Verdict anticipated on the finish of the week
Just a few days earlier, a number of the collectors, who represented greater than half of the debt, had agreed to erase 1.8 billion euros of debt, on the situation that the longer term purchaser maintains the present scope of the group's actions. .
With the collectors agreeing to waive an extra billion euros in money owed, we’re getting nearer to a takeover of Atos by the consortium led by David Layani. Indeed, the consortium's supply to date consisted of a debt discount of three.2 billion euros, which the collectors weren’t ready to do.
Opposite is the supply from the British fund Attestor and the Equity Investment firm managed by Daniel Kretinsky. The Czech billionaire by no means stops getting his arms on French firms, he who took over Casino final March, once more with Attestor. This funding fund owns round 100 million euros of Atos debt.
However, Daniel Kretinsky's supply supplies for debt forgiveness of not less than 4 billion, due to this fact a a lot better lack of cash for collectors. In addition, final February, Daniel Kretinsky made a primary supply, then rejected, consisting of buying solely the group's outsourcing actions.
The collectors ought to make their ultimate choice earlier than Friday, May 31 within the night.
https://www.lepoint.fr/economie/reprise-d-atos-david-layani-se-rapproche-d-un-accord-avec-les-creanciers-29-05-2024-2561523_28.php