French stock market authority endorses takeover offer for Theolia

Jul 24, 2013 - French stock market regulator AMF approved yesterday the takeover bid submitted by MEIF4 AX Holdings, a unit of Australian investment fund Macquarie Group (ASX:MQG), for French wind power producer Theolia (EPA:TEO).
The bid, which values Theolia at some EUR 110 million (USD 145.2m), is subject to the condition of the buyer's acquisition of at least two-thirds of the voting rights.
The offer was approved by Theolia's board and will be launched by July 26. It will be open for 31 days.
Through the acquisition, Theolia will get the support of a long-term, majority shareholder that will provide stability in a difficult economic and regulatory environment.
Furthermore, Theolia will be able to repay its convertible bonds ahead of the early redemption date of January 1, 2015, and to pursue its development plans.
At 1101 CET today, Theolia's shares were gaining 0.60% to EUR 1.68 in Paris.

(EUR 1.0 = USD 1.321)

Choose your newsletter by Renewables Now. Join for free!