The management fund has offered a price of €1.70 per share, representing a premium of 51.8% over the last share price prior to the announcement of the offer. Theolia’s management and board have recommended the offer citing reasonable financial standpoint by the Board-appointed independent expert.

Theolia’s wind energy portfolio comprises power capacity of 1,269MW across France, Germany, Italy and Morocco.

Commenting on the offer, Theolia CEO Fady Khallouf said that the friendly takeover offer is a significant opportunity for the company and its shareholders.

"It would allow Theolia to both repay the convertible bond and increase its capacity for future development. Macquarie is an ideal long-term investor to support Theolia in this new phase," added Khallouf.

Four stakeholders – Michel Meeus, Pierre Salik, Brigitte Salik and Fady Khallouf, who have combined ownership of 13.45% of Theolia have committed to the offer.

Macquarie France president Bruno Angles noted: "We welcome the support of Theolia’s management and Board. We are conscious that Theolia still has a lot of work to do in order to deliver on its various projects."