(Bloomberg) -- Atos SE, the troubled French technology company that’s been fighting to avert bankruptcy, has agreed to sell its Worldgrid unit for €270 million ($294 million) including debt.
French engineering and tech consultant Alten SA has received regulatory approvals to acquire Worldgrid, which provides consulting and engineering services to utility companies, and the deal is expected to close before the end of the year, Atos said in a statement on Tuesday.
Atos, a key supplier to major French industries including nuclear facilities and last summer’s Olympic Games in Paris, is working to sell some assets and dig its way out of a debt pile that threatened its ability to continue operating. A French commercial court approved Atos’s restructuring plan last month, giving the company new money to keep operating and giving creditors control of the company.
The French government had previously offered to buy key parts of Atos’s big data and security unit for an enterprise value of €700 million, in a deal that would give the state control over the company’s supercomputers, “mission critical” systems and cybersecurity activities. That non-binding bid expired last month with no agreement.
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