ROUNDUP: Energy group Uniper applies for government stabilization measures
DÜSSELDORF – The ailing energy company Uniper
submitted an application for stabilization measures to the federal government after Russian gas supplies had been curtailed and the associated price jumps. The proposal also provides for equity components that would lead to a relevant federal investment in Uniper, as the company announced in a mandatory announcement to the stock exchange on Friday. Accordingly, Uniper also proposes being able to pass on price increases to customers. The measures were aimed at ending the current accumulation of significant losses and covering Uniper’s liquidity needs.
Uniper: Fortum is also in talks with the federal government
DÜSSELDORF – Unipers Finnish major shareholder Fortum
According to the Düsseldorf group, is also holding talks with the federal government. These relate to the negative effects of the current gas supply restrictions imposed by Russia on Uniper shared the MDax
-Group on Friday in Düsseldorf. Fortum’s proposal provides for a restructuring of Uniper with the aim of establishing a security of supply company owned by the federal government. The gas crisis and heavy reliance on Russia have put Uniper in financial difficulties.
Kreise: No decision on the rescue package for Uniper yet
BERLIN – The federal government is negotiating with the energy company Uniper more about support measures. The German Press Agency learned from government circles on Friday that there is still no rescue plan for Uniper and no decisions on concrete measures. A multi-billion dollar investment by the federal government in Uniper via a stake in equity is possible. However, a mix with the possibility of Uniper passing on high gas price increases to customers is also conceivable. In the amended Energy Security Act, the possibility of a surcharge for all gas customers has been created.
ROUNDUP: Tag Immobilien raises money for acquisition with capital increase – price drop
HAMBURG – TAG Real Estate wants to finance the takeover of the Polish housing developer Robyg in part with money from a capital increase. According to a statement on Friday, the company intends to raise around 200 million euros by issuing around 29 million new shares at 6.90 euros each. Members of the Executive Board and Supervisory Board also want to take part in the move. The already battered stock fell to its lowest level since 2015 in response to the news.
ROUNDUP 2/Gas Crisis: Clear the way for more coal-fired power plants
BERLIN – Because of the gas crisis, the Bundestag and Bundesrat have cleared the way for using more coal-fired power plants to generate electricity. The aim is to save and store gas in this way. At the same time, late Thursday evening, the members of the Bundestag decided to grant state aid to ailing energy companies such as Uniper to facilitate. As an option, a pay-as-you-go system can also be created so that price jumps in gas for energy suppliers can be passed on to customers more evenly – as a replacement for the rules that have been possible up to now. However, the Federal Government wants to avoid having to use this instrument.
2/China: Auto market recovers significantly in June after dry spell – PCA
BEIJING – There are increasing signs of a recovery in the Chinese car market, which is extremely important for German manufacturers. After the declines of the previous months, China’s car dealers sold 1.97 million vehicles in June, 22 percent more than a year earlier and a good 43 percent more than in the previous month, according to data from the industry association PCA on Friday. This is a positive sign after the country’s auto market had long suffered from corona lockdowns and the problems faced by car manufacturers as a result of chip shortages. Since May 2021, there has only been one month of growth in sales to end customers.
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ROUNDUP: You read a summary in the company overview. There are several reports on the dpa-AFX news service on this subject.
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