Germany to bail out its largest importer of Russian gas ...Middle East

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Germany to bail out its largest importer of Russian gas
source : The Hill ( Middle East ) () 16
The German government has agreed to bail out the country’s biggest importer of Russian natural gas, in a 15-billion-euro ($15.3-billion) deal aimed at keeping the struggling energy supplier afloat. Germany will be taking a 30-percent equity stake in Uniper SE, a subsidiary of the Finnish corporation Fortum, according to a Friday announcement from Fortum. The country has offered Uniper up to 7.7 billion euros ($7.9 billion) in equity and is expanding its credit line by 7 billion euros ($7.2 billion) — from an existing 2 billion euros ($2 billion) to 9 billion euros ($9.2 billion), the announcement said. The deal was welcome news to a company that has been experiencing significant

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