The Uniper Agreement is Lehman Moment for European Energy

Germany nationalizes gas giant Uniper announced Wednesday, setting off seismic tremors in the once sleepy world of European gadgets wrought by a new Cold War with Russia. Investment in this sector will vary dramatically.

Berlin said it will inject 8 billion euros, or $7.9 billion, in return for new equity with a nominal value of 1.70 euros per share. It will also acquire the Finnish utility company Fortummajority shares of Uniper in the same proportion.

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