Atos Picks Onepoint Over Kretinsky for French Firm’s Bailout
- Onepoint’s proposal will keep Atos largely intact as a company
- Atos will work to reach a final refinancing agreement by July
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Atos SE chose a bailout proposal from a group led by David Layani’s Onepoint, its top shareholder, beating out a rival bid from Czech billionaire Daniel Kretinsky for the troubled French IT company.
Onepoint’s rescue plan for the troubled French IT company, which includes new equity and reduced debt, has the support of the board and the company will now seek to reach a final agreement with its creditors by July, Atos said in a statement on Tuesday. The Onepoint-led bid was also backed by Paris-based investment firm Butler Industries and digital transformation specialist Econocom Group SE.