The works councils of the nationalized energy group Uniper have issued a joint statement opposing a sale of Germany's largest gas supplier, instead calling for an Initial Public Offering (IPO). In a declaration published on Tuesday, the group's works councils argued that an IPO is the only responsible path forward. They maintained that only a public listing would guarantee the preservation of the company as a whole, ensure value creation, safeguard jobs and sites, and serve the federal government's interest in sustainably shaping the energy transition.

The federal government intends to reprivatize the group, which was nationalized during the 2022 energy crisis. The method of divestment - whether via an IPO or a direct sale - remains undecided. Interested parties have until June 12 to come forward. According to insiders, the Canadian investment firm CPPIB and Czech billionaire Daniel Kretinsky's EPH Holding are expected to enter the race. Interest has also reportedly been shown by the Norwegian oil and gas group Equinor and the French energy giant TotalEnergies. Some potential buyers are said to be interested only in specific business units, including stakes in nuclear and hydroelectric power plants in Sweden.

INSIDERS: SOME BIDNERS TARGETING ONLY SPECIFIC ASSETS

'A sale to strategic investors carries the risk of a breakup,' the works councils stated. They warned that potential new majority owners could quickly divest business units, realign activities, or focus on individual business segments. 'A minority stake held by the federal government alone would not offer reliable protection against such developments.'

(Report by Tom Kaeckenhoff. Edited by Olaf Brenner. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)