EU Approves Huge Uniper Rescue With Long List of Conditions
- Bloc green lights €35 billion package to avoid collapse
- Germany must reduce its Uniper shareholding to 25% by end 2028
A coal-fired power plant operated by Uniper SE in Datteln, Germany.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The European Union approved Germany’s nationalization of two major gas companies with a long list of conditions requiring both firms to sell off assets and subsidiaries.
The EU authorized a €34.5 billion ($36.6 billion) rescue package for Uniper SE, the biggest in German history. It also approved the €6.3 billion rescue of SEFE Securing Energy for Europe GmbH, the former European trading and supply unit of Gazprom PJSC, under the condition it divests assets too.