In addition Fortum, which in turn has the Finnish state as a majority shareholder, will be repaid for an €8 billion loan it gave Uniper in January.
Confirming the long-rumoured deal, Germany’s federal economics minister Robert Habeck described Uniper as a “central pillar of the German energy supply”. The changed market since Russia’s attack on Ukraine, he said, had “fundamentally changed” the role of gas on the Continent and made its business plan — for its gas-heavy integrated portfolio — “no longer viable”.
The Uniper bailout comes days after Berlin announced it was placing three Russian-controlled oil refineries in German state trusteeship.
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