It’s another crucial week for Atos. The IT group is submitting a restructuring plan to the Nanterre commercial court aimed at reducing its debt by 5 billion euros. This plan was hastily drawn up, with the help of the State, just before the Olympic Games to ensure continuity: the company notably managed accreditations, dissemination of results and cybersecurity.
After having dismissed the billionaire Daniel Kretinsky, and the retraction of David Layani, boss of OnePoint, the field was left open to the creditors of Atos accompanied by their banks to take control of the capital by transforming the bulk of the debt they held in shares.
The fear of a “piecemeal” sale
It was the dreaded scenario. “When creditors take over, we often know how it ends: with a piecemeal sale », Feared Pascal Besson, central CGT union representative at Atos, this summer. Above all, it risks being accompanied by a gradual sale of the group.
The union does not give up its arms: “ We met the LFI deputies in September. We have a meeting with the president of the environmental group. We have contacts to meet socialist deputies and communist deputies. The general secretary of the CGT, Sophie Binet, requested a meeting with the new Minister of the Economy Antoine Armand » explains the CGT Atos.
At the beginning of October, the group announced an extension of the negotiations initiated – so far without success – with the French State on the purchase of its strategic activities, including in particular supercomputers used in nuclear deterrence. The decision of the commercial court should be deliberated on a date still unknown.
One of the reasons for the collapse of Atos is the crisis in its governance. Since the departure of former general manager Paul Saleh, the chairman of the board of directors Jean-Pierre Mustier has taken on the role of CEO, on a temporary basis since July, and was replaced this Monday by Philippe Salle. This boss, who worked for large companies (Total, McKinsey, Altran, Elior, etc.), was since December 2017 general manager of the group specializing in immobilization Emeria.
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