Under an agreement between Berlin and the Scandinavian group, Germany will acquire 56% of Fortum's capital for approximately €500 million and proceed with a €8 billion capital increase, the Finnish company said in a statement. «After the capital increase and the purchase of shares, the German state will hold approximately 98.51% of Uniper,» Fortum said.
Specifically, as reported by Bloomberg, the Berlin government will contribute 8 billion euros in the Düsseldorf-based utility company through a capital increase at a price of €1.70 per share, the Finnish parent company said on Wednesday. Fortum Corporation. Uniper has accumulated €8.5 billion in losses related to natural gas following the interruption of supplies from Russia to Europe.
- «Under the current conditions in the European energy markets and recognizing the seriousness of Uniper's situation, divesting Uniper is the right step,» said Markus Rauramo, CEO and President of Fortum.
As part of the agreement, Germany will undertake to full ownership of Uniper, buying Fortum's stake, about 78%, for €500 million, said Fortum, which is majority-owned by the Finnish government. Upon completion of the deal, the German state will own approximately 98.51% of Uniper, it added.
Chancellor Olaf's governing coalition Solz is determined to ensure Uniper's survival in the coming months, when the energy crisis could worsen.
Uniper has already received a series of bailout loans, but these were quickly exhausted by the scale of the crisis and stronger state support is required.
