Fortum and Germany find agreement on Uniper

FORTUM and the German government have reached an agreement on the nationalisation of Uniper, a Düsseldorf-based natural gas-reliant subsidiary of Fortum.

The Finnish majority state-owned energy company revealed this morning that it will sell all of its 293 million shares in Uniper to the German state for around 500 million euros, or 1.7 euros per share. Uniper will also repay a four-billion-euro loan to its parent company and release the company from the four-billion-euro guarantee it received earlier this year.