Uniper: federal government nationalizes energy suppliers

Uniper: federal government nationalizes energy suppliers
Uniper headquarters in Düsseldorf

Berlin, Düsseldorf, Espoo The federal government nationalizes Germany’s largest gas importer Uniper. This emerges from a stock exchange announcement by the Uniper parent company Fortum on Wednesday morning. Accordingly, the Finnish state-owned company wants to sell its stake in Uniper to the federal government. The background to this is that Uniper has gotten into financial difficulties as a result of the Russian gas supply freeze via the Nord Stream 1 pipeline.

Fortum writes in justification in the stock market release: “Since the stabilization package for Uniper was agreed in July, Uniper’s financial situation has continued to deteriorate rapidly and significantly.” Economics Minister Robert Habeck will comment on Uniper at 8:30 a.m., as his ministry announced on Wednesday morning .

After the completion of a capital increase and the acquisition of the Uniper shares from Fortum, the federal government will own around 98.5 percent of the shares in Uniper, the previous majority shareholder Fortum announced on Wednesday. According to the announcement, a capital increase of EUR 8 billion at a price of EUR 1.70 per share is planned.

The state development bank KfW will provide Uniper “if necessary with additional liquidity to bridge the gap until the completion of this capital increase,” as stated in the announcement.

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More: Why a Uniper nationalization could mean the end of the gas surcharge

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