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Germany announced the nationalization of Uniper


September, 21 2022
watermark Economic news

The German authorities announced the purchase of 99% of the shares of the leading energy concern Uniper. Currently, the gas giant, the largest buyer of Russian gas in Germany, is at the epicenter of the crisis caused by Moscow's measures to reduce gas flows from the Russian Federation. 


The German government hopes that the nationalization of Uniper will help save the country's energy system from collapse, as the company will be able to continue providing energy to enterprises, utilities and consumers.


The agreement on the purchase of shares of the concern was reached between the German government, Uniper itself and its main shareholder, the Finnish company Fortum. The total amount of the transaction amounted to 8 billion euros (1.7 euros per share). 


It is noted that the new agreement will replace the rescue plan adopted in July, according to which the government will receive a 30% stake in Uniper. The German government is also in talks to acquire at least two other companies, which could be a coordinated move.


Since the beginning of this year, the value of Uniper shares has fallen by 90%. However, the day before, when it became known about the deal, they added 3.8% in price. Fortum shares rose by 9.5%.



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