Berlin currently holds a 99.12% stake in the company, a result of a 2022 bailout triggered by the collapse of Russian gas supplies. Under mandates from the European Commission, the German government must reduce its ownership to no more than 25% plus one share by 2028. This divestment process now pits Apollo against heavyweights like Czech billionaire Daniel Kretinsky’s EPH, Brookfield, and a partnership between RWE and KKR.
Apollo Enters Fierce Bidding War for German Energy Giant Uniper
Apollo Global Management has launched a non-binding bid for Uniper, throwing its hat into an $11.6 billion race to acquire Germany’s primary gas importer. The investment firm joins a high-stakes field of rivals, including Equinor and KKR, all vying for control of an entity now central to European energy security.
Uniper remains a critical piece of infrastructure, managing 190 TWh of annual gas supply and 5.9 billion cubic meters of storage capacity within Germany. Following the formal termination of contracts with Gazprom Export earlier this year, the firm has pivoted to a new supply portfolio anchored by long-term LNG deals from the U.S. and Australia. Government advisers are expected to cull the list of potential suitors within the coming weeks as Berlin weighs a direct sale against a return to public equity markets.
Comments (0)
No comments yet. Be the first!