Find Us

Germany to buy Fortum's Uniper stake, inject 8 billion euros

Uniper CFO Tuomela to leave in March
Uniper CFO Tuomela to leave in March Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
Share this articleComments
Share this articleClose Button

FRANKFURT -Germany is set to buy Fortum's stake in Uniper and inject a further 8 billion euros ($8 billion) as part of a nationalisation of the gas importer, Uniper said on Tuesday.

The capital injection, which would come via a capital increase subscribed only by Germany's government, would bring the total package of loans and equity used to stabilise Uniper so far to at least 29 billion euros.

"The final agreement has not yet been concluded," Uniper said.

Fortum, which owns a 78% stake in Uniper, said that the deal will include the "return of the financing Fortum granted to Uniper" which the Finnish group has put at 8 billion euros.

A firm agreement of the nationalisation of Uniper, which has been hit by soaring gas prices and a cut off in supplies of Russian gas, will be unveiled on Wednesday, sources have said.

Uniper shares were 1.7% higher.

($1 = 1.0019 euros)

Share this articleComments

You might also like