The German Ministry of Economy announced on Monday that the subsidiary of Russian gas giant Gazprom, now known as SEFE, which has intervened since April, It will be the property of the state.
“The reason is the excessive indebtedness in SEFE’s balance of trade and the resulting bankruptcy risk. Security of supply in Germany“The ministry said in a statement to the press.
“To avoid this danger and SEFE’s operational business Now the owner will change and the company will stabilize, ”he continued, according to which the relevant order was published in the official State newspaper today.
Former Gazprom Germania renamed as ‘Energy Assurance for Europe’ (SEFE). “key” company for gas supply from Germany, according to the same source.
in April, After Russian state-owned company Gazprom tried to liquidate its German subsidiaryThe German government has decided to put the company under guardianship, but the ministry remains unclear who currently owns the company.
The company was in financial difficulties Due to Russia’s sanctions against him and his refusal to transact due to confusion over banks’ ownership structures.
The German State is the sole shareholder of SEFE
With the passing of this Monday, the German Government has set up a company. The capital injection of 225,595 million Euros will be the sole shareholder of SEFEAccording to the ministry, it is a measure that has already received approval from the European Commission (EC).
Former shareholders will be compensated Expropriation based on the market value of SEFE shares, however, the procedure “did not result” and did not provide further details.
Moreover, The government has decided to increase the credit line of 11,800 million given to the company to 13,800 million euros in the spring as a stabilization measure.Some of it will be converted into equity if AT allows.
In September, The German government has already nationalized Uniper, the country’s main gas importer and took over 99% shares, until then, about half of it was in the hands of the Finnish company Fortum.
supply interruption gas in Russian puts the company in financial trouble, because it had to buy gas at much higher prices from other suppliers and continued to supply it to its customers according to the rates determined by the contract.
Also in SeptemberThe German government has taken control of the German subsidiary of the Russian oil company Rosneft to guarantee the security of its crude oil supply “in the medium and long term”.anyone.
Source: Informacion
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