9/21/2022, 8:23 AM (Source: TeleTrader)
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Germany to acquire 98.5% stake in Uniper

Uniper SE, Fortum Oyj, and the German federal government agreed on Wednesday on a deal "that will ensure the long-term stabilization of Uniper in light of the further deteriorating situation in the energy markets." The government will acquire the company's shares currently held by Fortum for €1.70 per share for €500 million billion in total, becoming a 98.5% stakeholder.

"Today's agreement provides clarity on the ownership structure, allows us to continue our business and to fulfill our role as a system-critical energy supplier. This secures the energy supply for companies, municipal utilities, and consumers," said Uniper CEO Klaus-Dieter Maubach. "We are committed to doing our part to overcome this crisis and to restructure the energy supply in this country."

Baha Breaking News (BBN) / DJ