Germany: The German state will nationalize gas giant Uniper, its Finnish owner has announced.
The German state will nationalize to a percentage of 98.5% the giant natural gas company Uniperwhich is suffocating due to supply cuts Russian gasthe company’s majority shareholder, the Finnish group Fortum, announced this morning.
As part of an agreement between Berlin and the Nordic group, Germany will buy 56% of the capital held by Fortum for around 500 million euros and proceed with a capital increase of 8 billion euros, the Finnish company said in a statement. “After the capital increase and the purchase of the shares, the German state will own approximately 98.5% of Uniper”, explains Fortum.
Last week, Berlin placed the German subsidiary of the Russian oil giant under surveillance Rosneftwith the PCK (Schwedt) refinery moving into federal regulatory control.
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