Agreement with Fortum: gas importer Uniper is to be nationalized


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Agreement with Fortum

Gas importer Uniper is to be nationalized

Negotiations have been going on for a long time, now there is a result in the talks about nationalizing the gas importer Uniper. According to the group, the federal government and major shareholder Fortum agree on nationalization.

Germany’s largest gas importer Uniper is to be nationalized. The group announced that Uniper was in final talks with the federal government and the major Finnish shareholder Fortum.

Uniper had previously announced that everyone involved would be working “at full speed on a sustainable stabilization solution”. In July, the federal government, Uniper and its Finnish parent company Fortum agreed on a rescue package worth billions, which also provides for the federal government to get involved. Fortum currently holds around 78 percent of Uniper’s shares.

Last week, Uniper also announced that a capital increase that would lead to a “significant majority stake” by the federal government in Uniper is now being examined. “Discussions are ongoing,” said a Uniper spokesman.

Uniper is in trouble because Russia no longer pumps gas to Germany, but the company has to fulfill its long-term contracts and therefore buys the missing gas expensively on the market. The pipeline gas from Russia was comparatively cheap. Because of the delivery stop, the prices have now multiplied.

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