On Tuesday, Onepoint welcomed the support of the Atos Board of Directors for its proposed takeover of the technology consulting group.

In a press release issued this morning, David Layani, Chairman and Founder of Atos, commented that the Board had reached a "major" milestone that would enable the company to enter the final phase of negotiations on its financial restructuring, following a "long period of uncertainty" that had affected the business.

We will do everything in our power to rapidly reach a lasting solution, which will provide the Group with a healthy balance sheet, a clear project and a determined management team", he emphasized.

The 'One Atos' project - led by the consortium comprising Onepoint, Butler Industries and Econocom - was officially selected this morning by the Atos Board of Directors

. The consortium's preliminary indicative offer includes, subject to adjustments, the conversion of 2.9 billion euros of debt into equity.

The proposed acquisition is also based on obtaining 1.5 billion euros in operating financing, including 300 million euros in bank guarantees.

Lastly, it is based on the contribution of 250 million euros in new equity, including 175 million euros contributed by the consortium for a stake equivalent to 21% of the capital.

The remaining 75 million euros would be contributed by creditors, for a stake equivalent to 9% of the capital.

In view of this operation, judged by analysts to be "highly dilutive", with less than 0.1% of the capital going to current shareholders post-restructuring, Atos shares fell by 11% this morning.

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