https://sputnikglobe.com/20220914/berlin-mulls-nationalizing-energy-importer-uniper-amid-crisis-reports-say-1100759609.html
Berlin Mulls Nationalizing Energy Importer Uniper Amid Crisis, Reports Say
Berlin Mulls Nationalizing Energy Importer Uniper Amid Crisis, Reports Say
Sputnik International
MOSCOW (Sputnik) - The German government is considering the possibility of increasing its stake in the country's largest gas importer, Uniper, above 50% and... 14.09.2022, Sputnik International
2022-09-14T11:23+0000
2022-09-14T11:23+0000
2022-09-14T11:23+0000
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Uniper currently needs additional assistance from the authorities despite the fact that it has already resorted to using a support package worth up to 20 billion euros ($20 billion), according to the media outlet.On July 8, the energy company requested state support from the German government, citing a reduction in gas supplies from Russia's Gazprom. On July 22, Berlin and Finnish energy company Fortum, which is Uniper's largest shareholder with a stake of about 78%, reached an agreement on a comprehensive package of measures to stabilize the financial condition of the German firm.In particular, the German government decided to acquire a 30% stake in Uniper and provide the company with additional capital of up to 7.7 billion euros. Meanwhile, Germany's state-owned KfW investment and development bank expanded its credit line for Uniper to nine billion euros from the initial two billion euros.In August, Uniper said it had fully used the nine billion euros credit line from KfW and requested an extension for another four billion euros.
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Berlin Mulls Nationalizing Energy Importer Uniper Amid Crisis, Reports Say
MOSCOW (Sputnik) - The German government is considering the possibility of increasing its stake in the country's largest gas importer, Uniper, above 50% and, if necessary, nationalizing the company to prevent the deterioration of the energy crisis, Bloomberg reported on Wednesday, citing people familiar with the matter.
Uniper currently needs additional assistance from the authorities despite the fact that it has already resorted to using a support package worth up to 20 billion euros ($20 billion), according to the media outlet.
On July 8, the energy company requested state support from the German government, citing a reduction in gas supplies from Russia's Gazprom. On July 22, Berlin and Finnish energy company Fortum, which is Uniper's largest shareholder with a stake of about 78%, reached an agreement on a comprehensive package of measures to stabilize the financial condition of the German firm.
In particular, the German government decided to acquire a 30% stake in
Uniper and provide the company with additional capital of up to 7.7 billion euros. Meanwhile, Germany's state-owned KfW investment and development bank expanded its credit line for Uniper to nine billion euros from the initial two billion euros.
In August, Uniper said it had fully used the nine billion euros credit line from KfW and requested an extension for another four billion euros.
