On 20 December 2022, the EU Commission has approved the stabilisation package for Uniper SE under state aid law. Thus, the agreed stabilisation measures could now be implemented. In addition to a EUR 18bn credit facility from KfW and a cash capital increase of EUR 8bn subscribed exclusively by the Federal Republic of Germany as well as an increase of the authorised capital of up to EUR 25bn, the measures include the acquisition of all Uniper shares currently held by Fortum by the Federal Republic of Germany for approx. EUR 500m in total. In addition, the redemption of Fortum's shareholder loan to Uniper in the amount of EUR 4bn and the release of Fortum from the guarantee facility granted in the amount of EUR 4bn are part of the stabilisation package.
Hengeler Mueller advised Fortum on the transaction. The team included partners Daniel Kress (M&A/Restructuring, Berlin), Daniela Böning, Nikolaus Vieten (both Financing, Frankfurt), Carsten Schapmann (Düsseldorf), Joachim Rosengarten (Frankfurt) (both Corporate/M&A), Jan Bonhage (State Aid and Subsidies/FDI), Henning Bälz (European Law) (both Berlin), Vera Jungkind (Sanctions) and Christoph Stadler (Antitrust) (both Düsseldorf), counsel Anja Balitzki (Antitrust), Matthias Cloppenburg (Corporate/M&A) and Jörg Meinzenbach (Public Law/Regulatory) (all Düsseldorf) as well as associates Alexander Ruckteschler, Tom Shingler (both Financing, Frankfurt), Benedikt Statz, Eric Becker (both Düsseldorf), Moritz Weidemann (Frankfurt) (all Corporate/M&A), Thomas Ruthemeyer, Dr. Anton Petrov (both Public Law/Regulatory, ), Marcus Bsaisou (European Law), Moritz Müller Leibenger (Restructuring) (all Berlin) and Joachim Burger (State Aid, Brussels).
Hengeler Mueller has been advising the Fortum group for several years and already in connection with Fortum's public takeover offer to the Uniper shareholders in 2017.