Uniper workers oppose a sale to a strategic buyer, fearing a break-up, job cuts and site closures, and favor an IPO, works council chief Martin Geilhorn says. Germany is weighing both options for the utility it rescued with €13.5 billion in 2022.
Berlin owns 99.12% of Uniper and plans to sell up to 74.12%, retaining a 25%-plus-one-share blocking stake. EPH and a joint CPPIB-Brookfield group submitted indicative bids by the September 21 deadline, according to people familiar with the matter. EPH is owned by Czech billionaire Daniel Kretinsky.
Worker representatives hold half the seats on Uniper’s supervisory board. Geilhorn said recent roadshows showed investor interest in Uniper shares, and two people familiar with the matter said initial meetings to gauge demand for an IPO went well. Reuters reported in June, citing sources, that Uniper could be valued at around €10 billion.
