Business

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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