Germany Kicks Off Sales Process of Bailed-Out Energy Firm Uniper
The German government said the 99.12% state-owned utility could be sold or listed after its 2022 bailout cost taxpayers €13.5 billion.
- On Tuesday, the German government announced plans to re-privatize energy group Uniper, seeking to sell or list its 99.12% stake in the company that received a 13.5 billion euro bailout during the 2022 European energy crisis.
- Berlin nationalized Uniper in 2022 after Russia cut gas supplies to Europe, leaving the nation's largest fuel importer facing massive losses. European Union rules now require Germany to reduce its stake to no more than 25% plus one share by the end of 2028.
- Uniper CEO Michael Lewis said on Tuesday the company is "more stable, more resilient and more clearly positioned strategically," with business aligned toward reliable earnings and a strong balance sheet.
- Potential bidders including Equinor ASA, Czech billionaire Daniel Kretinsky's EPH, and Brookfield Asset Management Ltd have shown early interest; interested parties must declare intent to advisers JPMorgan Chase & Co. and UBS Group AG by June 12.
- No final decision on the sale's structure, timing, or scope has been made, and uncertainty remains whether taxpayers will fully recover the 13.5 billion euros invested. A similar divestment process is expected for Securing Energy for Europe GmbH.
24 Articles
24 Articles
The German government plans to reprivatize the energy group Uniper, which is a co-owner of the Swedish nuclear power plants Oskarshamn, Ringhals and Forsmark.
The federal government is examining various options for the resale of the energy group Uniper. IPOs are still possible, the federal government emphasizes.
The Uniper energy supplier, which had been rescued by the German state after Ukraine's invasion, is now on sale, according to an announcement published in the Financial Times. The demonstrations of interest can be made until 12 June. According to the Bloomberg news agency, which quotes that announcement, Berlin leaves open the type of operation, which can go through an OPA (Initial Public Offer) or a direct sale. JPMorgan and UBS investment bank…
Uniper's former main owner, Fortum, suffered billions in losses.
The Federal Government begins with the re-privatisation of the Düsseldorf-based energy company Uniper. Options include an IPO or a sale. No decision has yet been made.
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