The German government plans to invest about 8 billion euros in its largest energy company, Uniper, as part of a historic plan to nationalize a company that threatens to collapse the German energy sector.
On Tuesday, Uniper confirmed that it is in final talks with the government on a bailout package that includes an increase in its capital of around 8 billion euros paid in full by the government.
Thus, the German government becomes the largest shareholder of the company by buying out the shares of the main shareholder, which is the Finnish company Fortam Uyi.
Uniper said in a statement that the aggravation of the energy crisis in Germany and disruptions in the supply of Russian energy carriers caused a very significant increase in prices, which led to huge financial losses and required external financial assistance.
Notably, Uniper, Germany’s largest energy company, depends mainly on gas and oil imports from Russia, but Moscow’s cuts in gas supplies to Europe in response to European sanctions on it have put it in serious financial trouble.