Uniper: acquisition by Germany approved by EU

(CercleFinance.com) - The European Commission announces that it has cleared the acquisition of Uniper SE by the Federal Republic of Germany, via the German Federal Ministry of Finance ("BMF").


Uniper is active worldwide in the wholesale of natural gas and coal, as well as in the generation and wholesale of electricity. In the gas markets in particular, Uniper is active in gas trading as well as in the upstream and downstream wholesale of natural gas and its retail supply. Meanwhile, BMF is currently not active in the energy markets.

The transaction was prompted by the ongoing European energy crisis, in particular the halt in Russian gas supplies and the sharp rise in gas prices, which led Uniper, Germany's largest importer of Russian gas, to require substantial capital injections to avoid insolvency.

The Commission concluded that the proposed acquisition would not give rise to any competition concerns as BMF and Uniper are currently not active in the same or vertically related markets.


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