Despite having partially dug itself out from under the mountain of debt accumulated in the run-up to the financial crisis, the firm, based in Aix-en-Provence, continues to fight for its survival. Its share price rose a modest 1.2% on its full-year 2009 results.
In 2007, amid an aggressive campaign of acquisition and expansion, Théolia sold €240m ($324.8m) in convertible bonds – set to mature as early as January 2012, depending on its performance.
