Energy crisis: ailing Uniper group faces nationalization

The German state is to take over all Uniper shares previously held by the Finnish energy group Fortum and thus the majority in the ailing gas importer.

Energy crisis: ailing Uniper group faces nationalization

The German state is to take over all Uniper shares previously held by the Finnish energy group Fortum and thus the majority in the ailing gas importer. This provides for a new stabilization package, about which Uniper is currently still in final talks with the federal government and Fortum. Uniper announced this on Tuesday in Düsseldorf.

A capital increase of eight billion euros is also planned, which is to be subscribed exclusively by the federal government. "As a result, it is intended that the federal government will receive a significant majority stake in Uniper," it said. "The final agreement has not yet been finalized." Fortum currently holds almost 78 percent of Uniper.

The gas importer Uniper got into financial difficulties because of the lack of Russian deliveries because he had to buy expensive alternatives to service the contracts. Uniper therefore received government aid worth billions, but this was apparently not enough. Recently, there has also been talk of a possible majority stake for the state.

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