Germany to buy Fortum’s Uniper stake, inject 8 billion euros

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FRANKFURT — Germany is set to buy Fortum’s stake in Uniper and inject a further 8 billion euros ($8 billion) as part of a nationalization of the gas importer, Uniper said on Tuesday.

“The final agreement has not yet been concluded,” the company said.

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Fortum said that the deal, which is yet to be finalized, will include the “return of the financing Fortum granted to Uniper” which the Finnish group has put at 8 billion euros.

An firm agreement of the nationalization of Uniper, which has been hit by soaring gas prices and a cut off in supplies of Russian gas, will be unveiled on Wednesday, sources have said.

Uniper shares were 1.7% higher.

($1 = 1.0019 euros) (Reporting by Christoph Steitz, editing by Rachel More)