Business

German govt to take 30% stake in struggling gas company Uniper

Berlin: The German government will take a 30-percent stake in energy giant Uniper as part of a rescue plan to shield it from the energy crisis caused by the war in Ukraine, the company said Friday.

The plan “comprises a capital increase of approximately 267 million euros ($271 million) for an issue price of 1.70 euros per share”, which will lead to “a shareholding of the (state) in Uniper of approximately 30 percent”, as well as an increase in the credit line available to the firm via the public lender KfW to nine billion euros, Uniper said.

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