Negotiations on Uniper’s nationalization nearing completion – DW – 20.09.2022

Published by
Peter Kavinsky

German energy company Uniper close to making a deal to have it nationalized by Berlin amid the crisis caused by reduction of gas supplies from Russia. The company is in the final stages of negotiations with the German government and its main shareholder, Finland’s Fortum, Uniper said in a statement released on Tuesday, Sept. 20.

According to the group, German government, under the discussed plan, will “acquire the shares of Uniper currently owned by Fortum” and thereby “acquire a substantial majority stake in Uniper”. In addition, the state plans to inject another 8 billion euros into the capital of the company.

Fortum, which owns 78% of the shares, confirmed in a separate press release that it is considering selling its stake to the state. The deal also provides for the return of the Finnish company financingthat it had previously provided to Uniper, Fortum reported.

The contract is not yet finalized, the companies note. According to sources, the nationalization agreement could be presented on September 21, according to Reuters.

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Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

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