Breeze
Two
Energy
issued
a
series
of
bonds
in
2006
to
build
a
series
of
wind
projects,
now
totalling
311MW
in
Germany
and
26MW
in
France.
Working
through
a
subsidiary,
Theolia
has
bought
70%
of
one
tranche
of
Breeze
Two’s
outstanding
bonds,
giving
it
“control”
of
the
German
company
and
the
right
to
install
its
own
chief
executive,
Fady
Khallouf,
as
new
managing
director.
The
deal
puts
an
enterprise
value
of
€309m
($415.8m)
on
Breeze
Two.
Theolia,
whose
own
debt
mountain
nearly
tipped
it
into
bankruptcy
several
years
ago,
will
finance
the
manoeuvre
principally
through
a
new
€34m
non-recourse
loan
due…
