German government aims for 30% stake in Uniper - report

Wednesday, 20. July 2022 11:17

The German government plans to own a 30% stake in energy company Uniper SE, Handelsblatt reported on Wednesday. The state is also planning "further hybrid equity," according to a document sent from the Federal Ministry of Economics to the Climate and Energy Committee, seen by the newspaper.

The government is also planning to increase the current loans to Uniper from the state-owned KfW Development Bank from €2 billion to €8 billion "in order to provide short-term liquidity for replacement gas purchases and to secure margin positions." On Tuesday, the French government stated it aims to nationalize Electricite de France S.A. (EDF), buying the 15.9% of shares it does not already own for around €9.7 billion.

Uniper shares jumped over 13% following the report.

Related Links: Uniper SE
Author:
Baha Breaking News (BBN) / DJ