EnergyWatch

Germany bails out Uniper in fallout from Russian gas squeeze

Berlin settles on buying 30% of the German utility to stave off the demise of one the county’s most important energy providers, under severe pressure due to squeezed gas supply owing to Russia’s war against Ukraine.

Photo: FABRIZIO BENSCH/REUTERS / X90145

Germany hammered out a rescue package for Uniper SE to prevent the collapse of a linchpin in the country’s energy network in the wake of Russia’s moves to slash gas supplies.

The government will get about 30% in Uniper, a holding big enough to give it veto rights on important strategic decisions, Uniper said in a statement on Friday. Fortum Oyj, Uniper’s main shareholder, will retain a majority.

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