German Government to Reduce Stake in Uniper to 25 Percent

The privatisation process begins four years after the state took full ownership during the energy crisis triggered by the Ukraine war. The government will retain a quarter of the shares while opening the remainder to private investors. Officials described the step as a return to a mixed ownership model for the company.

Background on the Rescue Uniper was nationalised in 2022 after sharp rises in gas prices left the importer facing insolvency. The state injected billions of euros to keep the company operating and secure energy supplies. The rescue prevented wider disruptions to German industry and households during the winter heating season.

Since then, energy markets have stabilised and the company has returned to profit.

Officials said the process will be conducted through standard market channels. The retained 25 percent stake will allow continued oversight of a firm that remains central to Germany's gas imports.