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Germany nationalizes its largest company and gas importer

The energy crisis is making the world afraid, from companies to individuals, due to the instability we are experiencing and the results that, although unknown, are unpleasantly predictable. Against this backdrop, Germany decided to nationalize its largest gas company in the country.

German banks are able to support this investment.

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Chancellor Olaf Scholz recently made a difficult decision on behalf of Germany: nationalize Uniper. Thus, the German government will direct eight billion euros from public coffers to hold 99% of the shares of the country's largest energy company, with a value of 1.70 euros each.

Before this change, the company was controlled by Finnish Fortum, which saw its 56% share capital being bought by the German government, for 500 million euros.

Although the German banks manage to ensure the viability of this nationalization, the country's great fear is linked to the financial collapse of Uniper due to the issue surrounding Russia - in addition to being Germany's largest gas company, it is also the largest gas importer. country's Russian. After all, in the first half of 2022 alone, the gas company lost more than 12,418 million euros.

uniper, germany

Previously, in August, Uniper had already requested a loan from Germany in the amount of 13 billion euros.

Today's agreement allows us to continue our business and fulfill our role as a supplier of critical energy to the system. This ensures the supply of energy to companies, municipal utilities and consumers. [...] We at Uniper are aware of our responsibility towards Germany and Europe.

Guaranteed Klaus-Dieter Maubach, CEO of Uniper.

This action taken by Germany appears to prevent the national and European collapse, in terms of energy. After all, the country is aware of the situation the world is going through as well as the instability that hangs over the nations.

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