The German government has begun the process of selling energy giant Uniper, three years after the group was nationalized during the gas crisis following Russia's invasion of Ukraine, reported dpa.
A sale notice published in the Financial Times suggests the government is considering both a sale and an initial public offering (IPO).
Uniper, Germany’s largest gas importer, ran into difficulties in 2022 when Russia stopped supplying gas following its invasion of Ukraine.
Germany rescued the company in a multibillion-euro bailout and effectively became its sole owner.
The deal was authorized by the European Union subject to numerous conditions, including a commitment for the government to reduce its stake to a maximum of 25% plus one share by the end of 2028.
According to a report in the Süddeutsche Zeitung newspaper, the German government appears open to either selling one or more blocks of shares to investors, or to launch an IPO or a combination of both.
The deals would have to be finalized by November, while preparations are underway for an IPO in January 2027.
A ministry spokesman explained that the publication of the notice marked the start of the official process to gauge demand from potential buyers. Investors can register their interest until June 12.
The notice also makes it clear that, following the completion of the privatization process, the government intends to retain a 25% stake plus one share in Uniper, enabling it to secure a blocking minority.
Uniper chief executive Michael Lewis welcomed the development in a statement, saying the group is now "more stable, more resilient and more clearly positioned strategically."
Uniper is one of Europe’s largest energy companies in terms of electricity generation and gas trading.
Its customers include around 1,000 municipal utilities and industrial companies. The group operates coal-fired and gas-fired power stations in Germany, the United Kingdom and Sweden.
Uniper also generates electricity from hydropower and is the majority owner of a nuclear power station in Sweden.
In Germany, the company is also the largest operator of gas storage facilities. At the end of March, the Dusseldorf-based company employed just under 7,200 people.
- Uniper
- Sell stake
- Germany
Source: www.dailyfinland.fi
