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Uniper logo: Fresh capital is needed before the end of the year
Photo: WOLFGANG RATTAY / REUTERS
The gas importer Uniper, which is struggling due to a lack of Russian gas supplies, needs more billions.
The planned cash capital increase of eight billion euros will not be enough to stabilize Uniper, as the group announced.
For this reason, authorized capital of up to EUR 25 billion is to be created by issuing new shares against cash and/or non-cash contributions.
It should be available to partially restore equity, which has been weakened by further losses in this and the coming years.
Only the federal government is entitled to subscribe, the statutory subscription rights of other shareholders are excluded.
The share, which is listed in the SDax, fell to ten percent.
Authorized capital is to be used in tranches
The additional aid has become necessary because the previous rescue was to be financed primarily through income from a planned gas levy.
The traffic light coalition had canceled this again, so that further financial requirements arose.
The authorized capital is to be used in tranches, with the first part being required before the end of 2022 for the planned cash capital increase.
The new shares are also to be issued to the federal government at EUR 1.70 each.
The state-owned KfW bank will provide interim financing to bridge the gap.
Shareholders should vote on rescue plans before Christmas
Shareholders are expected to vote on the rescue plans before Christmas.
These will be presented to investors at an extraordinary general meeting on December 19.
The Düsseldorf SDax group is in trouble because Russia is no longer delivering gas to Germany.
The gas wholesaler, which was heavily focused on deliveries from Russia, is a supplier to over 100 municipal utilities and large companies, and thus plays a central role in Germany's natural gas supply.
The company now has to buy the missing gas from Russia at a higher price on the gas market.
Sol/dpa/Reuters