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Stock impact report

French IT Firm Atos Reaches Restructuring Deal With Creditors [BNN Bloomberg (Canada)]

Accenture plc Class A Ordinary Shares (Ireland) (ACN) 
Last accenture plc class a ordinary shares (ireland) earnings: 3/19 06:44 am Check Earnings Report
US:NYSE Investor Relations: investor.accenture.com
Company Research Source: BNN Bloomberg
Bondholders and lenders have agreed to convert €2.9 billion ($3.1 billion) of loans and bonds into equity, provide up to €1.675 billion of new debt and to inject €233 million in new equity, either themselves or alongside a private industrial investor, according to the statement. Creditors have until July 8 to sign the lock-up agreement. Once it has enough support from creditors, Atos will request a commercial court to open an accelerated safeguard to approve the restructuring. This court process allows the company to overrule dissenting stakeholders as long as it meets certain conditions. Atos started negotiations with its creditors under the supervision of a court-appointed conciliator in early February. The company needed not only to reduce its debt burden but also an equity injection, and two bidders with different views on how to rescue Atos emerged early on: David Layani's OnePoint — a smaller French IT firm that is the largest shareholder of Atos — and Daniel Kretinsky's EP Show less Read more
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