By Giulia Petroni

Uniper SE has agreed to divest its crude oil processing and marine fuel trading business based in the United Arab Emirates as part of remedies the gas importer must fulfill under the European Union's state aid law in the context of the German government's takeover.

The business will be sold to a consortium of Montfort Group and the Private Office of Dubai's Sheikh Ahmed Dalmook Al Maktoum, according to the utility. The acquisition is expected to be completed in the coming months, subject to conditions.

Financial details of the deal weren't disclosed.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 16, 2023 03:37 ET (08:37 GMT)

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