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Theolia Wants Added Morocco Presence, Journal des Finances Says

Theolia SA (TEO)’s capital-raising campaign will enable the wind-power company to revise its global strategy, “revisiting” its India and Brazil strategies as it aims to “amplify” its presence in Morocco, Journal des Finances said today, citing an interview with Chief Executive Officer Fady Khallouf.

Should Theolia get the 60.5 million euros ($76.5 million), it would parcel 20 million euros to partially pay bondholders, leaving it enough cash to go about business “serenely,” the weekly newspaper said.

Khallouf said the era of growth through high-priced acquisitions is “over” and that Theolia will focus on hastening the growth of “highly profitable” projects, according to the newspaper.

To contact the reporter on this story: Heather Smith in Paris at hsmith26@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.

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