Uniper sale attracts giants. Czech tycoon Křetínský faces a strong rival

The German state is continuing its search for a buyer for Uniper, which remains an important part of the country’s energy sector after being rescued during the energy crisis. The Czech company EPH, already a major market player, has also entered the race. EPH’s bid has already drawn opposition from employees, and there are also concerns about the impact on competition. According to Bloomberg, another major bidder has now entered the sale process—one the German state could favor.

Berlin launched the sale process in May, with interested parties asked to indicate on a non-binding basis by June 12 whether they were interested in a stake in Uniper. The German government has offered up to 74.12% of the shares for sale and intends to retain a blocking stake after the sale, meaning at least 25% plus one share.

The sale process is not entirely voluntary. The sale is mandatory under a European Commission decision, which made it a condition of approving Uniper’s rescue during the first energy crisis. Under the decision, Germany must reduce its stake by the end of 2028.