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Fortum agrees final terms for Uniper sale to Germany

Published 19/12/2022, 09:07
© Reuters. FILE PHOTO: Finnish energy company Fortum sign is seen at their headquarters in Espoo, Finland July 17, 2018. Picture taken July 17, 2018. REUTERS/Ints Kalnins//File Photo
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HELSINKI (Reuters) -Finland's Fortum on Monday said it had signed the final terms of an agreement that will allow the company to sell its shares in troubled utility Uniper to the German government.

The German government in late September agreed to take over Fortum's Uniper subsidiary, effectively nationalising the gas importer to try to cover losses incurred after Russia cut supplies.

© Reuters. FILE PHOTO: Finnish energy company Fortum sign is seen at their headquarters in Espoo, Finland July 17, 2018. Picture taken July 17, 2018. REUTERS/Ints Kalnins//File Photo

Fortum on Monday said it would sell its Uniper shares to Germany for 0.5 billion euros ($532 million) and get back a parent loan of 4 billion euros, in line with the earlier agreement.

($1 = 0.9401 euros)

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