The German government has launched the process to find potential buyers for its shares in the energy group Uniper (Tagesschau, 19/05/2026). Germany currently holds a 99.12% stake in the company following a EUR13.5bn (USD15.7bn) bail-out triggered by the energy crisis in September 2022 (KEI, 22/09/2022).
The divestment plan focuses on attracting long-term investors but also considers listing some of the shares on the stock market, with a potential IPO in January 2027, although it plans to retain a strategic 25%+one share minority stake. The sale of individual parts of Uniper’s business is not being considered. The government expects to finalize the transactions by November 2026. The company is currently valued at approximately EUR18bn but it is not clear whether its value will remain the same once the sale begins.