The federal government can join Uniper. The utility's shareholders give the green light for this. With a capital increase and the issue of new shares, the group is to be saved from collapse. The reason for the imbalance is the cessation of gas supplies by Russia.
The Uniper shareholders have cleared the way for the extensive nationalization of the ailing energy company. At an extraordinary general meeting, the owners of Germany's largest gas trader voted in favor of the stabilization measures agreed with the federal government and the previous Finnish majority shareholder Fortum. The EU Commission is still examining the plans under state aid law. It is expected that she will only give the green light under conditions, such as the sale of shops.
Among other things, the rescue package provides for a capital increase of eight billion euros, which only the federal government is entitled to subscribe to. The federal government will also take over Fortum's stake in Uniper. The federal government will then hold around 98.5 percent of Uniper. Since Fortum had previously been Uniper's majority shareholder with around 78 percent, approval of the stabilization measures was considered certain. The Federal Ministry of Economics announced the implementation "probably this week". In addition, up to 25 billion euros should come in through the issue of new shares.
At the shareholders' meeting, CEO Klaus-Dieter Maubach was confident that the company would return to profitability - but only in the medium term. "We expect that in the medium term, once the losses from gas replacement purchases as a result of the non-delivery of Russian gas have ended, we will again generate positive results," he said.
Meanwhile, the shares of Uniper's parent company Fortum were sought after on the stock exchange and in some cases rose by more than seven percent. The stock is now rated as a pure provider again, since the risks of entering the state have mostly ended up with the German taxpayer, according to the trade. Fortum is doing fine. However, Uniper had announced that it wanted to hold on to its stake in nuclear power plants in Sweden. There are currently no intentions to sell the nuclear energy business, the hydroelectric power plants in Sweden or parts thereof, it said. Should that change, the previous Finnish majority shareholder Fortum has the right to submit an initial offer until the end of 2026. Uniper papers increased slightly.
Uniper had stumbled because Russia had gradually stopped supplying gas to Germany. In order to be able to meet its delivery obligations to municipal utilities and industrial companies, Uniper had to buy gas expensively on the energy exchanges. The daily losses amounted to over 200 million euros at times.
