The works council of Uniper has announced its fierce opposition to the sale of the gas conglomerate to a strategic investor. Martin Geilhorn, the head of the overall works council at Uniper, informed the “Handelsblatt” that the employees’ side has formally documented its position to the Federal Ministry of Finance, which is overseeing the sale process. While Geilhorn stated that the board supports the planned Initial Public Offering (IPO) positively, he issued a strong caution: “Should the responsible parties in the Ministry decide to sacrifice Uniper’s independence and sell it to a strategic investor, we will offer vehement resistance”.
Addressing potential buyers, Geilhorn was explicit, saying, “We tell every potential acquirer plainly that we view this as an act of hostility against the interests of the employees”. Given Uniper’s strategic importance to Germany, he added, “We expect the Ministry of Finance not to repeat another disastrous mistake, such as the one made with Commerzbank. We will defend ourselves vigorously”.
The “Handelsblatt” had previously reported on Tuesday that numerous strategic bidders were engaging in the sale process for the gas group. For example, the Swedish group Vattenfall confirmed its interest in Uniper’s shares in nuclear and hydroelectric power plants in Sweden. Furthermore, according to the “Handelsblatt”, the Norwegian gas producer Equinor is also examining a potential offer.
