Shareholders of Uniper clear way for German nationalization
Shareholders of German energy company Uniper have approved a rescue package for the gas supplier, clearing the way for its nationalization BERLIN -- Shareholders of German energy company Uniper on Monday approved a rescue package for the gas supplier, clearing the way for its nationalization . The government announced its plan to nationalize Uniper in September, expanding state intervention in the power sector to prevent an energy shortage resulting from Russia’s war in Ukraine. The deal built on an initial rescue package agreed to in July and features a capital increase of 8 billion euros ($8.5 billion) that Germany will finance. As part of the agreement, the government will gain a nearly 99% stake in the energy supplier, which before now was controlled by Finland-based Fortum. The Finnish government has the largest stake in Fortum. Uniper said its shareholders “approved the proposed capital measures by a large majority” at an extraordinary general meeting on Monday. G...