Uniper, the German gas giant will be nationalized: the state will buy 99% of the shares

Uniperthe largest gas importer of the Germany, will be nationalized. After the company confirmed the ongoing negotiations with the state, the details were disclosed in a note: “The German government acquires the 99% of the group”Explained the majority shareholder precedence Fortum. The state then becomes an absolute majority shareholder, taking charge of a much higher percentage than expected which was around 50%.

The deal is based on a bailout package that was agreed in July: a capital increase from 8 billion funded by the government. The intervention of the executive, explains the Berlin Ministry of Economy, was necessary “to ensure the supply of businesses, factories and families”. The state will then take on a share of Uniper at the nominal price of € 1.70 per share.

The gas giant had been in serious trouble for several months: the losses have been estimated at around 12 billion, of which more than half are indirectly caused by theRussian invasion ofUkraine. Uniper, in fact, imported most of the gas by purchasing it from the Moscow company Gazprom.

To reduce the losses of the German giant, the government will also activate a provision starting from 1 October to allow the transfer of part of the increases in the cost of gas to citizens, through a increase in bills. This was announced by the German vice-chancellor Robert Habeck, arguing that “it is a bridge to guarantee the financial solidity of Uniper”.

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About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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