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AP National Business

Germany close to deal on nationalizing gas company Uniper

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Published 3:38 am

By GEIR MOULSON
Associated Press

BERLIN (AP) — Natural gas supplier Uniper says it’s in “final discussions” for Germany to nationalize the company. The move announced Tuesday ramps up the German government’s intervention in the gas and oil industry as Russia’s war in Ukraine provokes an energy crisis. Uniper says the expansion of its July rescue deal would feature a capital increase of 8 billion euros that the government would finance and involve Germany taking a majority stake now held by Finland-based Fortum. The Uniper rescue is one of several measures taken by the government to try to ensure sufficient energy supplies this winter as Russia has cut back natural gas supplies to Europe.

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