Skip to content
Magazine
Friday, August 1, 2025
SUBSCRIBE
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
SUBSCRIBE

Germany to take over Uniper from Finnish Fortum

Shiva Singh by Shiva Singh
21 September 2022
in Belgium Business And Economy News
Dusseldorf,/,Germany,-,August,11,,2017:,Sign,At,The

Dusseldorf / Germany - August 11, 2017: Sign at the entrance to Uniper SE - German Energy Company - Headquarters E.ON-Platz, Dusseldorf, Germany

Belgium, (Brussels Morning Newspaper) Germany is close to taking over Uniper power utility from its Finnish state-owned counterpart Fortum.

Uniper pointed out that it was wrapping up negotiations with the German government and Fortum to amend the bailout agreement from July, according to Reuters reporting on Tuesday.

Uniper, Germany’s largest importer of Russian gas, is struggling to remain solvent as price of fossil fuels continues to rise and Moscow reduced natural gas supplies to Germany.

The German government initially bailed out Uniper in July and is planning to inject additional 8 billion euro into the company to keep it afloat.

The move would bring the Uniper bailout package to roughly 29 billion euro, with the company noting in a statement that “it is envisaged that the Federal Government will obtain a significant majority stake in Uniper.”

The utility stressed that parties have not yet reached a final agreement.

German energy sector struggling

EU’s sanctions against Russia and Moscow’s retaliation have affected the energy sector in Germany. Earlier this year, the government put under trusteeship Securing Energy for Europe (SEFE), formerly Gazprom Germania, and Rosneft Deutshcland, subsidiaries of Russian energy companies.

Fortum noted that the agreement with Germany will include the “return of the financing Fortum granted to Uniper” which it estimates at 8 billion euro.

Fortum started investing in Uniper in 2017, which the German company resisted over concerns that the new owner could break it up.

Tytti Tuppurainen, Finnish Minister of European Affairs and Ownership Steering, stressed that it was too early to comment on the agreement before it is finalised.

“We consider it important that Fortum gets back the 8-billion-euro funding it gave to Uniper, and, overall, that Finnish taxpayers won’t be subjected to unreasonable expenses because of this,” she noted.

Harald Seegatz, employee representative at Uniper’s supervisory board, pointed out in an interview with the Rheinische Post daily that the company needs “the state as the main shareholder in order to survive the gas crisis and to master the energy transition in the long term.”

According to sources, the final agreement on planned nationalisation of the utility will be released later today.

Related News:

  • Germany on path to nationalise Uniper power utility
  • Uniper post losses of €40bn in first nine months
  • Finnish ruling coalition at odds over economic recovery plans
  • Finnish MPs to target Russian citizens, not war efforts
Tags: News
Next Post
Flags,Of,Eu,And,China,Painted,On,Cracked,Wall

EU Chamber warns about loss of confidence in China

Latest post

EU-elections-UK

EU elections: UK looks on from the “outside”

1 year ago
Galeries-Royales-Saint-Hubert

What Makes Galeries Royales Saint-Hubert an “Institution”?

1 year ago

Most Read

    Follow Brussels Morning
    Facebook Twitter Youtube Linkedin

    Browse Important News

    Belgium News
    Brussels News
    Culture and Society News
    Economy News
    EU Institutions News
    European Commission News
    European Council News
    European Parliament News
    Europe News
    Health And Fitness News
    Southeast Europe News
    Sustainable Perspective
    World News
    Diplomacy News
    US Elections News

    About Us

    Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

    More Info

    • About Us
    • Advertise With Us
    • Contact Us
    • Cookies Policy

    Join Our Newsletter

    Brussels Morning Newspaper – All Rights Reserved © 2024

    No Result
    View All Result
    • Home
    • About Us
    • Belgium News
      • Belgium Police News
      • Brussels News
    • Brussels Bubble
      • European Parliament News
      • European Commission News
      • European Council News
    • Wider Europe
      • Member States
    • World News
    • Business & Society
    • Europe With Transparency
    • Culture & Society
    • Policy Talks
      • Place de la Bourse
      • The Macro-Economist
      • Sustainable Perspective
      • Ambassador’s Corner
      • The American Angle
      • Southeast Europe
    • Print Magazine

    Brussels Morning Newspaper - All Rights Reserved © 2020

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Cookie settingsACCEPT
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT