EC approves €34.5 billion to recapitalize Uniper
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The allocation of €34.5 billion by the German government to recapitalize energy company Uniper has been approved by the European Commission (EC). Due to these funds, the company’s cash capital will be immediately replenished by €8 billion, the authorized capital – by €26.5 billion.
“This measure has been approved in accordance with Article 107 of the Treaty on the Functioning of the European Union … recognizing that the EU economy is in serious trouble,” reads a press release on website EC.
At the same time, the European authorities approved a number of restrictions on Uniper’s operations: in particular, a ban on the sale of shares in a number of international projects, bonus payments and advertising of state support as a competitive advantage.
December 16 EC allowed Germany to nationalize Uniper, which is on the verge of bankruptcy due to the suspension of gas supplies by Gazprom. At the end of August, the Russian monopolist completely stopped supplying energy to Uniper, in connection with which the energy concern initiated arbitration proceedings for compensation of more than €11.6 billion for lost gas volumes.
On the requirements of Uniper to Gazprom – in the material “Kommersant” “International trumpet”.
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