By Christoph Steitz and Tom Käckenhoff
DUESSELDORF (Reuters) – Uniper plans to pay the German government 2.6 billion euros ($2.7 billion) in the first quarter as the utility, which was bailed out during Europe’s energy crisis, is preparing for a return to the stock market.
Uniper was nationalised in 2022 when the government injected a total of 13.5 billion euros. Berlin has been preparing to reduce its 99.12% holding as soon as this year, either via a partial or full sale, sources have told Reuters.
Uniper, which presented final results for 2024 after publishing preliminary figures earlier in February, did not say whether the change in government following Sunday’s election would impact the exit plans, under which Berlin must reduce its stake to at least 25% plus one share by 2028.
The group said it would support Berlin’s effort for a stake sale on the capital markets, which has been Berlin’s preferred option even though talks about a full sale with potential suitors, including Brookfield and Czech billionaire Daniel Kretinsky, are also being held.
The German utility remains in disputes with its former main gas supplier Gazprom of Russia, which first curbed and later suspended deliveries and brought Uniper to the brink of collapse, forcing the German government to step in.
Among other repercussions, the conflict has resulted in a Russian court ruling ordering Uniper to pay more than 14 billion euros to Gazprom, a decision the German firm appealed.
Uniper on Tuesday said its affected entities had exhausted all available legal options to overturn the decision, “however without success”.
Uniper confirmed the Russian ruling would allow Gazprom to seize Uniper assets in Russia and possibly outside the country, adding it was determined to defend itself against any enforcement attempts.
($1 = 0.9546 euros)
(Reporting by Christoph Steitz, Tom Kaeckenhoff; Additional reporting by Vera Eckert; Editing by Miranda Murray, Ludwig Burger and Tomasz Janowski)
