History
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.[2] The company became active on 1 January 2016, with 14,000 employees and is expecting an operating profit (EBITDA) of €4billion.[12][13] 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.[5] The only nuclear plants in Uniper are Swedish, because German government rules aim to stop companies avoiding nuclear clean-up costs.[14]
In June 2016, the shareholders' meetings of E.ON SE and Uniper SE decided to spin off Uniper from E.ON.[5] 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.[15] It was intended to deconsolidate Uniper from E.ON in the first half of 2017.[5] E.ON sold a 53% stake in the business through a listing on the Frankfurt Stock Exchange on 12 September 2016.[16]
In November 2017, Uniper completed the sale of its stake in 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.[17]
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.[18] Fortum acquired, in total, a 47.35% stake. The deal was completed on 26 June 2018, after approval by various authorities.[19] As of August 18, 2020, Fortum held a 75.01% stake in Uniper.[20]
On 4 July 2019, Uniper and EPH ("Energetický a průmyslový holding a.s.") 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 (Lorraine), two coal-fired power plants in Saint-Avold and Gardanne (Provence), the biomass power plant "Provence 4 Biomasse" in Gardanne and wind and solar power plants.[21]
In 2025, Uniper sold its power plant in Gönyű, Hungary to Veolia.[22]
Impact of Ukraine war
Bail out
Russia's war in Ukraine highlighted the dilemma that Germany faces regarding Russian assets held by German companies, and severely disrupted the company's operations.[23] Uniper announced on 28 April 2022 that it would pay for Russian gas in rubles, in a move that the BBC described as "giving in to Russian demands and helping to undercut EU sanctions on Russia".[24]
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.[25] Germany agreed to pay €267million for a stake in the ownership of Uniper, while also offering the firm up to €7.7billion in financing.[26]
