Today: Tuesday, 29 November 2022 year

German government plans to buy 30% stake in Uniper

German government plans to buy 30% stake in Uniper

The German government is discussing the purchase of a 30% stake in the gas company Uniper. This is a rescue package in the framework of the energy crisis in the country.

Uniper is also considering a new credit line from the state-owned Kreditanstalt fur Wiederaufbau. Details of the rescue operation could be discussed at a meeting with Chancellor Olaf Scholz on July 22, according to Handelsblatt sources.

The representative of the Ministry of Economy of Germany did not comment on reports of a possible purchase of a stake in Uniper.

Uniper is in crisis after Russia launched a military special operation in Ukraine due to a sharp rise in energy prices. The company was forced to buy large volumes of gas on the expensive spot market. The situation escalated after the owner of the company, Fortum, stopped financing a subsidiary.