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Germany Reportedly Starts Uniper Stake Sale, Targets 25% Holding for Energy Control

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Germany on Tuesday launched the sale process for its 99.12% stake in Uniper after spending 13.5 billion euros ($15.67 billion) to rescue the energy group during the 2022 crisis, according to multiple media reports.

After Gazprom suspended gas shipments to Europe following Russia's invasion of Ukraine, Berlin took control of Uniper to prevent the company from collapsing.

The government said it may sell shares directly or pursue an initial public offering while maintaining a 25% plus one-share stake to preserve influence over strategic energy decisions.

Berlin asked interested parties to submit letters of intent to JPMorgan and UBS before June 12, according to the reports.

Officials said Germany will prioritize Uniper's future stability and safeguard national energy supply while reducing the state's ownership position, according to the reports.

Germany reportedly plans to keep Uniper's operations integrated, while a full transaction could emerge later this year, and a possible IPO process may continue into 2027.

Reported bidders in recent months include Abu Dhabi's Taqa, Norway's Equinor, Brookfield Asset Management, and EPH, the energy group controlled by Czech billionaire Daniel Kretinsky.

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