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Uniper in Final Talks With Germany Over Rescue Deal

By Giulia Petroni

 

Uniper SE said Tuesday that it is in final talks with the German government over a rescue deal that includes a capital increase of 8 billion euros ($8 billion) and the acquisition of Fortum Oyj's shares in the utility by the state.

The German gas importer said the stabilization package under discussion now includes a EUR8-billion capital increase, with exclusion of subscription rights, to be subscribed exclusively by the state. It also envisages the sale of Fortum's shares in Uniper to the government and return of the financing Fortum granted to Uniper, according to the Finnish company.

As a result, the German government is expected to hold a significant majority stake in Uniper. Fortum currently holds a 77.96% stake in the German utility.

Discussions are in the final stages but the agreement hasn't yet been concluded, Uniper said.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

September 20, 2022 10:59 ET (14:59 GMT)

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