Germany could soon nationalize ex-subsidiary SEFE

by time news


The logo at the company headquarters in Berlin is still the same.
Bild: dpa/Fernando Gutierrez-Juarez

“Securing Energy for Europe”, the former Gazprom Germania, is under trusteeship – and could soon be absorbed into a new company founded by the federal government.

DThe federal government is said to have set up a holding company in order to be able to nationalize the German subsidiary of the Russian state-owned company Gazprom in the short term. This is reported by the “Welt am Sonntag”.

The former Gazprom Germania, which has since been renamed Securing Energy for Europe GmbH (SEFE), has so far been under the trusteeship of the Federal Network Agency. According to the preliminary report, an existing shelf company was renamed Securing Energy for Europe Holding GmbH SEEHG in June. It is responsible for investments and should ensure security of supply in the energy sector, the paper quotes from the shareholder agreement that it has.

The preliminary report also states that two lawyers from the law firm CMS Hasche Sigle are the managing directors. The law firm declined to comment, citing confidentiality obligations. The Federal Ministry of Economics stated that the holding company was known to it; its creation is a precautionary measure for any restructuring measures.

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