Canada Pension Plan Investment Board and Czech EPH are expected to show interest in buying Uniper next week, with the sale of the German energy group expected to value it at more than 10 billion euros ($11.62 billion), Reuters reported, citing information from four people familiar with the matter.
The sale of Uniper is the most sweeping change to Germany's utility landscape since Berlin bailed it out, together with SEFE, to the tune of almost 20 billion euros during the 2022 European energy crisis triggered by Russia's invasion of Ukraine.
Interested parties have a June 12 deadline to submit letters of interest to UBS and JPMorgan, the article said.
Brookfield, Norway's Equinor (EQNR) and France's TotalEnergies (TTE) are also expected to show interest in part or all of the 74.12% stake on the Germany government offered for sale in May, the sources said.
The initial letters of interest will not contain a purchase price but will show general information on the interested bidders, their ownership structure and details on how they would fund their purchase, the sources told Reuters.
Over the summer, a second round of indicative offers is planned with the potential for a deal to be finalized in the autumn.
The German government may also decide to sell a stake to an investor then offer more shares on the market at a later date, the article said.
Uniper avoided previous takeover attempts since it was spun off from E ON in 2016 and dodged insolvency after the European energy crisis.
Finland's Fortum, previously a majority owner of Uniper but later forced to sell to during the bailout, will show interest in Uniper's Swedish activities, comprising hydroelectric and nuclear plants. Fortum has confirmed its interest in those assets, should they be offered.
Germany's biggest power producer RWE could also join the process, three of the sources said. Another potential suitor for the Swedish assets is Vattenfall, a spokesperson for the Swedish utility said.
Germany's finance ministry, Uniper, CPPIB, EPH, Brookfield, Equinor, RWE and TotalEnergies declined Reuters' requests for comment.
has reached out to all of these institutions and companies seeking comment on the matter. None had responded by the time of publication.
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