German state bank KfW will provide funds to Uniper according to its liquidity needs, Uniper said. This also includes the replacement of a line of credit from Fortum, which consists of a €4 billion shareholder loan and a so-called €4 billion guarantee line. Stabilization measures are still subject to change. EU Commission approvals are still pending. An extraordinary general meeting of Uniper is expected to decide on the measures in the fourth quarter of 2022.
The federal government has also pledged support to other major gas importers if needed. “The state, as we are showing, will do everything necessary to keep companies stable in the market,” Economy Minister Robert Habeck said Wednesday in Berlin. “This applies to Uniper. This applies to other systemically important large companies in Germany.”
Finnish owner leaves
Currently, Fortum owns almost 78% of Uniper. Fortum itself is almost 51% owned by the Finnish state. In July, the federal government, Uniper and Fortum had already agreed a rescue package worth billions. It had already foreseen a minority participation of the German federal government. On 14 September, Uniper announced that negotiations on the stabilization package were also examining a capital increase that would lead to a “significant majority ownership” of the federal government in Uniper.