Uniper Seeks €25 Billion More Capital as Losses Mount
- Initial capital increase of €8 billion won’t be enough
- Additional capital is intended to cover future losses
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Uniper SE will need additional capital of up to €25 billion ($25.8 billion) from the German government as Russia’s gas supply cuts leave the utility giant struggling to survive.
An initial government injection of €8 billion will not be sufficient to stabilize the company, it said in a statement on Wednesday. The additional authorized capital will be created by issuing new shares -- to which only the government will be admitted to subscribe -- and is intended to cover future losses.