German Chancellor, Olaf Scholz announced a recovery package for the company german gas Uniper, The Finnish Fortum subsidiary and Russian gas supply are experiencing liquidity problems due to dwindling.
The German State will assume 30% of the companyAccording to the agreement reached, the chancellor, announced by Scholz at a press conference announced at the last minute, and after the chancellor’s return to Berlin, thus interrupting his vacation.
Among other stabilization measures, the Chancellor announced the extension of Uniper’s line of credit at the German Development Bank (KfW). Between 2,000 and 9,000 euros.
Instrument contingent bonds This means an injection of 7,700 million euros worth of “hybrid capital” into the company, as he calls it – which will be automatically converted into common stock at the end of their term.
Recovery talks between the German Government, the Forum and the Finnish Government lasted several weeks and, according to German media, Berlin He was lobbying for additional support from Helsinki.
As the chancellor explained, The German State will buy Uniper shares at a nominal value of 1.70 euros, even though they are quoted on the stock exchange for more than ten euros, stressed that this Fortum also made a “contribution”.
All these measures will help “stabilize” the companyWhich, according to Scholz, is of “important” importance for the gas supply to citizens and businesses in Germany.
The Chancellor recalled that the financial difficulties of the company, which is the main foreign customer of Russian Gazprom, are their own. It was caused by the interruption of gas supply on the Moscow side.
This cut forced Uniper to buy from other suppliers at much lower prices. higher so that they can fulfill their contracts with their customers, a Those who are unable to transfer new costs causing “great difficulties”.
Scholz emphasized that he would deal with Turkey “together”. problems arising from the energy crisis and no citizen or company will be forced to face challenges alone.
“We are strong enough to take” He reassured him before emphasizing that his government would “do everything necessary” to achieve this goal.
Source: Informacion
