The German State to the rescue of Uniper, prisoner of Russian gas

The public authorities will take 30% of the capital of this crucial gas supplier for the country.

Correspondent in Berlin

During the health crisis, the German state flew to the aid of the airline Lufthansa, then grounded, by acquiring 25% of its capital. It is now the turn of Uniper, a key importer of Russian gas, to be rescued by Berlin. Friday, July 22, the government unveiled the outline of an aid plan for the company in the main form of a 30% stake in the capital. At the broken price of 1.70 euros per share – the title has already lost 75% of its value in six months and was trading around 9 euros yesterday – the operation will cost 267 million euros from the federal budget. No major restructuring is planned.

The group will also benefit from a public loan of up to 7.7 billion euros, in the form of mandatory convertible bonds, intended to be converted into shares. The equivalent of an equity injection. Finally, the public rescue bank KfW, which had already released an emergency line at 2 billion…

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