Uniper

The split of the majority of E.ON's 'upstream' electricity generation business from its 'downstream' retail and distribution business was first announced in April 2015. The company became active on 1 January 2016, with 14,000 employees and is expecting an operating profit of €4 billion. Arranged below Uniper SE were the Uniper Beteiligungs GmbH and the Uniper Holding GmbH, the latter functioning as holding company for the operative companies such as the Uniper Kraftwerke GmbH. The only nuclear plants in Uniper are Swedish, because German government rules aim to stop companies avoiding nuclear clean-up costs.In June 2016, the shareholders' meetings of E.ON SE and Uniper SE decided to spin off Uniper from E.ON. It took place through a retrospective transfer of Uniper's business to 195 million new shares created by an increase in noncash capital as of January 1, 2016. It was intended to deconsolidate Uniper from E.ON in the first half of 2017. E.ON sold a 53% stake in the business through a listing on the Frankfurt Stock Exchange on 12 September 2016.In November 2017, Uniper completed the sale of its stake on the Russian gas field Yuzhno-Russkoye. The Uniper share of 25% was sold for €1.749 billion plus the transferred liquid funds to the Austrian OMV Group.In September 2017, Finnish power company Fortum announced it would buy E.ON's remaining 47% stake in Uniper and make a bid for the other 53% held by other shareholders, valuing Uniper at €8 billion. A takeover bid was submitted on 7 November 2017. E.ON accepted the offer on 8 January 2018. Fortum acquired in total a 47.35% stake. The deal was completed on 26 June 2018, after approval by various authorities. As of August 18, 2020, Fortum held a 75.01% stake in Uniper.On 4 July 2019, Uniper and EPH signed the agreements for the sale of Uniper's activities in France. The scope of transaction includes Uniper's French sales business, two gas-fired power plants in Saint-Avold , two coal-fired power plants in Saint-Avold and Gardanne , the biomass power plant "Provence 4 Biomasse" in Gardanne and wind and solar power plants.Uniper announced on 28 April 2022 that it will pay for Russian gas in roubles giving in to Russian demands and helping to undercut EU sanctions on Russia.In July 2022, the German government and Fortum agreed to bailout Uniper a €15 billion rescue deal after being severely affected by reduced supplies and high prices following the energy standoff with Russia. Germany agreed to pay €267 million for a stake in the ownership of Uniper, while also offering the firm up to €7.7 billion in financing. Under the bailout, a record in German corporate history, the government will take a 30% stake in Uniper, reducing the ownership of Fortum to 56%.On 20 September 2022, Bloomberg News reported that the German government intended to nationalize the company, purchasing the remainder of Fortum's stake and becoming Uniper's sole owner. News of the transaction caused Uniper shares to decline and a sharp spike in Fortum's share price, resulting in a halt in trading of the latter. Finland's Minister of Ownership Steering Tytti Tuppurainen stated that Finland would not accept the nationalisation of Uniper without a level of compensation being paid. The German government's intention to nationalize the company was formalized the next day. Germany will spend $8 billion to acquire a 99% stake in the company. Uniper published a €40b loss for the first 3 quarters of 2022.