Uniper started negotiations with the German authorities on nationalization
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Energy company Uniper confirmed, which is negotiating with the German government about the possibility of transferring a controlling stake to it. Uniper is experiencing serious problems due to the reduction in gas supplies from Russia – because of this, the company’s losses in the first half of the year amounted to €12 billion. “The parties are looking for alternative solutions, including a direct increase in share capital, which will lead to the fact that the German government will own a significant majority stake,” Uniper notes.
In July, the German authorities have already taken measures to save the company – then they you bought A 30% stake in Uniper for €267m, while also providing it with an extended €9bn credit line from state bank KfW and €7.7bn in convertible bonds. The Finnish company Fortum remains Uniper’s largest shareholder with a 56% stake in the German company.
However, these measures were not enough to save her. “Nationalization is the only solution left, Uniper’s financial resources have been completely undermined. From a mathematical point of view, there is nothing else that could be done, ”a source familiar with the situation was quoted by Reuters. According to Bernstein analysts, saving the company may require a capital injection of €4.5 billion – in this case, the share of the German authorities will increase to 88%, and Fortum’s share will decrease to 8%.
Uniper shares fell 23% today.
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