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Apollo Joins Uniper Buyout Race

7 Oct

Summary

Apollo Global Management submitted a non-binding offer for Uniper.
Uniper was bailed out by Berlin for €13.5 billion in 2022.
Germany aims to sell up to 74.12% of the state-owned energy firm.

Apollo Global Management has submitted a non-binding offer to acquire German energy firm Uniper, two sources with direct knowledge revealed. This positions Apollo as a contender in the auction for one of Germany's largest utilities. Uniper, previously bailed out by the German government for €13.5 billion in 2022, is now on the market.

Germany's finance ministry, which holds a 99.12% stake, is advised by UBS and JP Morgan and intends to sell up to 74.12% of Uniper. Other potential bidders include Czech energy firm EPH, a consortium of Brookfield and Canada's CPPIB, Norway's Equinor, and a KKR-RWE consortium. Decisions on advancing to the next round are expected in the coming weeks.

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