Germany plans privatization of former Gazprom unit - FT
Germany is set to begin a privatization of energy company SEFE, formerly Gazprom Germania, which was taken over by the state after Russia's invasion of Ukraine in 2022, the Financial Times reports.
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According to CEO Egbert Laege, the war with Iran has increased pressure on the plans, as disruptions to gas flows in the Middle East underscore the need for reliable suppliers.
The company is a central part of the country’s gas supply and operates around 10 percent of the network.
SEFE is also planning a new share issue of between 1.5 and 2 billion euros to finance expansion. Under EU rules, the German state must reduce its ownership to no more than 25 percent plus one share by 2028 at the latest.
Laege said that Germany plans to further reduce ownership after the share issue and did not rule out a listing as part of the process.
