Czech billionaire Kretinsky approached to buy Uniper, German utility worth 19 billion euros.

From Investing.com: 2025-01-20 07:51:39

Czech billionaire Daniel Kretinsky is one of the potential buyers approached by Berlin to acquire German state-owned utility Uniper, worth 19 billion euros. Other suitors include EPH, Brookfield, Equinor, and TAQA. Berlin, looking to divest its 99.12% stake, must reduce it to 25% plus one share by 2028. Uniper must sell assets by 2026.

EPH, owned by Kretinsky, has experience in Germany’s energy sector, having bought Vattenfall’s lignite-fired power stations. The government has spent 13.5 billion euros bailing out Uniper. Any deal involving Uniper will face regulatory scrutiny, as Berlin can block non-EU suitors acquiring over 10% in German power assets. Uniper supplied a quarter of Germany’s gas last year and operates a quarter of its critical power capacity.

Under a bail-out agreement with the European Commission, Berlin must reduce its Uniper stake by 2028. Uniper must sell assets, including the Datteln coal-fired power plant, by end-2026. Of the 10 asset disposals requested, Uniper has completed seven. Kretinsky’s investment firms own a fifth of Thyssenkrupp’s steel unit and 45.62% of wholesaler Metro.



Read more at Investing.com: Exclusive-Kretinsky’s EPH among those approached to buy Germany’s Uniper, sources say By Reuters