Uniper Says Germany Could Take Majority Stake as Part of Rescue Deal
14 September 2022 - 1:07PM
Dow Jones News
By Giulia Petroni
Uniper SE on Wednesday said that discussions with the German
government and its parent company Fortum Oyj over a rescue deal
include a potential equity raise that would result in a significant
majority participation by the state.
The German gas importer said no decisions beyond what was agreed
to in the stabilization package in July have been made, but the
parties involved are looking into alternative solutions as the
energy crisis has worsened.
Following Russia's halt of gas flows through the Nord Stream
pipeline and as a result of extremely high and volatile gas and
power prices, Uniper said its financial losses have significantly
increased due to the higher gas procurement cost.
"The deteriorating operating environment and Uniper's financial
situation have to be taken into account while Fortum, the German
government and Uniper continue their discussions on a long-term
solution," the company said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 14, 2022 06:52 ET (10:52 GMT)
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