Uniper Requests Clarification on Fortum's Stake Increase Plan
10 Ottobre 2019 - 05:03PM
Dow Jones News
By Pietro Lombardi
German energy company Uniper SE (UN01.XE) said Thursday that
after a deep analysis of Fortum Oyj's (FORTUM.HE) plan to increase
its stake in Uniper, it has identified some issues that need
clarification and a more thorough analysis.
"These open points include, among others, the substantiation of
commitments toward Uniper's employees, the future business
operations, Uniper's strategy and financial stability, including
maintaining its solid credit rating, outstanding regulatory
clearances in Russia, as well as envisaged changes in the
composition of Uniper's supervisory board," it said.
Fortum said Tuesday that it has reached agreements with Elliott
Management Corp. and Knight Vinke Energy Advisors Ltd. to buy their
entire holding in Uniper for roughly 2.3 billion euros ($2.52
billion), increasing its stake in the company to more than
70.5%.
"Uniper will continue to comprehensively assess Fortum's
intentions in the best interest of the company and all of its
stakeholders, and is aiming to clarify these uncertainties during
the ongoing discussions with Fortum," the company said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
October 10, 2019 10:48 ET (14:48 GMT)
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