|First significant cash-in from THEOLIA divestment program (2009/05/11 6:30 PM)|
THEOLIA has received the €15 million due from Hestiun Limited related to the December 2008 sale of its 24.02% stake in Thenergo.
This is the first significant achievement for the Group's divestment program for its non-wind assets. The Group continues its efforts to successfully carry out this program, as well as its plan of selling certain wind projects and assets.
This receivable was due since mid January 2009. In order to protect its interests, the Group had prepared an arbitration procedure and decided to depreciate the full amount of the receivable in its 2008 full year accounts. This provision, no longer relevant, will be reversed in the financial accounts as of June 30, 2009.
For more information
French Société Anonyme (public limited company with Board of Directors) with share capital of €39,746,992
Registered office: 75 rue Denis Papin BP 80199 - 13795 Aix-en-Provence cedex 3 - France
Tel : +33 (0)4 42 904 904 – Fax : +33 (0)4 42 904 905 - www.theolia.com
THEOLIA is listed on the compartment B of Euronext Paris, code: TEO
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