Atos creditors reach deal to rescue debt-laden group, La Tribune says

FILE PHOTO: Logo of French IT consulting firm Atos, in Angers

PARIS (Reuters) - Creditors have reached an agreement that could rescue tech firm Atos, which secures communications for the French army and is set to manage cybersecurity for this summer's Paris Olympic Games, La Tribune newspaper reported on Saturday.

Atos had given itself until Friday evening to receive refinancing offers. Its financial difficulties had led the French state to offer to acquire some of its strategic assets.

Under the agreement the bond creditors and banks which share Atos' debt would inject 1.2 billion euros ($1.29 billion) of cash, potentially with an industrial shareholder, and convert part of the debt into capital, the financial newspaper said.

Atos said on Monday it needed 1.1 billion euros in cash to fund its businesses over the 2024-25 period, compared with 600 million euros in a previous estimate, due to changing market conditions.

The French state announced last weekend it was ready to acquire strategically important assets from Atos, including its Advanced Computing, Mission-Critical Systems and Cyber Products.

The group manufactures servers for supercomputers capable of processing large quantities of data for research or to develop the nascent artificial intelligence industry.

In recent days French media has mentioned potential suitors including Bain Capital, Thales, Dassault Aviation and Czech businessman Daniel Kretinsky who may be interested in parts or all of Atos.

($1 = 0.9295 euros)

(Reporting by Sybille de La Hamaide; Editing by Ros Russell)