German government nationalizes Uniper

The German government will buy out Finnish Fortum’s stake in the Uniper energy concern for €0.5 billion. Thanks to this, the government will become the majority shareholder of Uniper with a 99 percent stake. The German authorities will invest a total of €8 billion (€1.70 per share).

“The federal government, Uniper SE and Fortum Oyj today agreed on an amendment to the package of measures announced on July 22, 2022, which will ensure the long-term stabilization of Uniper in the light of a further deterioration in the situation in the energy markets,” the statement reads. message companies. With the measures taken, Uniper “will continue to fulfill its system-critical role in Germany’s energy supply,” the company added.

Its chairman of the board, Klaus-Dieter Maubach, said that the agreement “will ensure the energy supply of enterprises, utilities and consumers.” “We are determined to contribute to overcoming this crisis and restructuring the energy supply in this country,” he added.

The German authorities decided to nationalize Uniper in order to support the country’s energy sector in a crisis caused by a reduction in gas supplies from Russia. In Russia, Uniper controls 83.73% of the Unipro generating company, which operates five 11 GW hydroelectric power plants. Uniper has spoken about plans to sell these assets, but there is no clear understanding of what will happen to them after the complete transfer of control over Uniper to the German authorities.

Details of the transaction – in the material “Kommersant” “Berlin takes power into its own hands”.

Laura Keffer