Germany's economy and finance ministries confirmed on Thursday the nationalization of energy company Uniper SE has been completed.

The European Commission greenlit the recapitalization worth up to €34.5 billion on Tuesday and ruled that Germany must reduce its shareholding at the company to not more than 25% plus one share by the end of 2028 at the latest. As previously agreed, the government acquired 99% of Uniper's shares.

Finland's Fortum Oyj, which previously owned the majority of the stake at Uniper, confirmed the completion the day before. As a result of the nationalization, Uniper will be removed from the Frankfurt Stock Exchange's (FWB) trading index SDAX.