Uniper

The federal government intends to privatize Uniper after the bailout and has solicited non-binding expressions of interest. According to insiders, about ten investment firms and energy groups have come forward; negotiations with these bidders are to follow. If no agreement is reached, an IPO or a combination of a direct sale of a large block and a placement of the remainder is planned; Berlin intends to retain 25 percent plus one share. » More on sueddeutsche.de

According to Bloomberg, more than ten interested parties have submitted bids or expressions of interest for the state-owned energy company Uniper, including KKR, JERA, Caisse de dépôt et placement du Québec, and consortia with Equinor, RWE and Brookfield/CPP. Vattenfall, Fortum, EPH and TotalEnergies have also filed offers for the whole company or parts of it. The Uniper works council opposes a sale and prefers an IPO, while the federal government wants to retain a stake of around 25%. » More on de.investing.com

The federal government is considering a re‑IPO of the Uniper stakes it holds; alternatively a direct sale is possible. Deutsche Bank, Citigroup and UBS are planned as lead managers for a stock market listing. Uniper operates in the energy supply sector and is headquartered in Düsseldorf. » More on finanzen.net

Deutsche Bank, Citi and UBS have been mandated to prepare a potential stock market listing for Uniper. The German government is pushing the sale of its roughly 75% stake in a dual-track process in parallel to a direct sale, which JP Morgan and UBS are leading. An IPO would realistically be earliest in early 2027; the timetable to meet the EU condition by 2028 is considered tight and depends on market conditions. Employees and the works council support the listing as a means to secure energy supply. » More on handelsblatt.com

Uniper CEO Michael Lewis warns that Germany’s gas storage facilities are currently well below the seasonal average and that the target of 70 percent capacity by November 1 becomes more difficult with each passing day. A negative summer–winter spread and high Asian LNG premiums hamper short‑term purchases on the spot market, while global competition for LNG is increasing. Uniper has diversified its portfolio with long‑term contracts but still relies heavily on spot purchases. The federal government is examining a national gas reserve as an emergency instrument, but concrete details are not yet available. » More on wiwo.de