The Macquaire fund, owned by Australian bank, Macquaire,  agreed to purchase Theolia, a French wind power group. Share prices set for the deal are at Eur1.70 per share.

Macquaire is an infrastructure fund owned the Macquaire Group Limited which handles global investment banking and diversified financial services groups. The firm provides banking, financial advisory, investment and funds management.

Theolia's board of directors and four major shareholders backed the offer which represents a 41% premium for the average share price comparing it to past months.

The deal is aimed to give Theolia a long-term owner during a "difficult economic and regulatory environment." Theolia owns and operates wind fams in Morocco, Italy, France and Germany. Theolia currently operates 1269 megawatts worth of wind power for itself and for other companies.

Theolia representatives said in a statement, "Theolia will therefore be able to pay back a bond coming due January 2015 early and pursue its development plan."