Here is the announcement: the troubled German gas industry giant will be nationalized

After the capital increase and the purchase of the Fortum shares – which does not include the subscription rights of the Finnish company – Germany will have a 99 percent stake in Uniper, the Ministry of Economy announced.

The state will do everything to ensure that companies always remain stable on the market

German Economy Minister Robert Habeck told reporters.

Pursuant to the agreement concluded with Fortum on Uniper, the Finnish utility provider will be repaid the EUR 4 billion parent company loan and be released from the EUR 4 billion parent company guarantee it gave to Uniper at the beginning of the year, Fortum announced.

We invest in Uniper with 8 billion euros of our own capital and practically buy out Fortum. Let me say it again: Fortum will lose its entire capital investment

Habeck said.

The Finnish government, which owns 50.76 percent of Fortum, said it would have to live with the deal.

Back in March 2020, Fortum announced that it had made an investment worth 6.5 billion euros, through which it acquired a 69.6 percent stake in Uniper. He later increased his stake to 80 percent, which he held until the dilution in July. Fortum has been a significant contributor to the Finnish state budget through dividends for years, and the growing losses accumulated through its German subsidiary have put the government under serious public pressure. In the second quarter alone, Fortum made a loss of EUR 9.1 billion due to Uniper’s gas trading losses.

After the announcement, Uniper’s shares are down 34.3 percent today, and nearly 93 percent this year.

Fortum’s shares are up 17.8 percent today, and the company’s shares are down 52 percent this year.


Cover image: Getty Images

Source: – Üzlet by

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