Nationalised Uniper stabilised with €8bn capital injection


Leading German gas importer has been nationalised and supported by a €8bn capital injection as part of new stabilising measures as a result of the intensifying energy crisis.

The Federal Government, Uniper and Fortum Oyj have today agreed on an amendment to the package of previoius measures that will ensure the long-term stabilisation of Uniper in light of the further deteriorating situation in the energy markets. The new stabilisation package focuses on three core elements: capital increase, gas surcharge, and KfW credit line.

The package announced in July provided for a capital increase of around €0.3bn and a mandatory convertible instrument of €7.7bn, but now Uniper’s financial stability is set to be secured in one go, with a capital increase of €8bn at an issue price of €1.70 per share.

An additional component is a right of first offer for Fortum if Uniper decides to sell the Swedish hydro or nuclear business – or parts thereof – in the future. This right is limited in time until December 31 2026, although Uniper currently says it has no intention to sell those businesses.

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