Awesome Companies & Great Careers: Uniper

Uniper SE [ˈjuːnipɚ] is an energy company based in Düsseldorf, Germany. The name of the company is a portmanteau of “unique” and “performance” [1][2] given by long term employee Gregor Recke.[3] Uniper was formed by the separation of E.ON‘s fossil fuel assets into a separate company that began operating on 1 January 2016.[4] The company employs about 11,000 employees in over 40 countries.[5][6] Around one third of the employees are based in Germany.[7] It owns a subsidiary company in Russia called Unipro. Uniper is listed at the Frankfurt Stock Exchange. Its largest shareholder is the Finnish energy company Fortum with a 75.01% stake.[8] The company has faced criticism for opening new coal fueled power plants in Germany as recently as May 2020.[9]

The split of the majority of E.ON’s ‘upstream’ electricity generation business from its ‘downstream’ retail and distribution business was first announced in April 2015.[1] The company became active on 1 January 2016, with 14,000 employees and is expecting an operating profit (EBITDA) of €4 billion.[10][11] Arranged below Uniper SE were the Uniper Beteiligungs GmbH and the Uniper Holding GmbH, the latter functioning as holding company for the operative companies such as the Uniper Kraftwerke GmbH.[4] E.ON eventually only included Swedish nuclear plants in Uniper, due to German government rules aimed at stopping companies avoiding nuclear clean up costs.[12]

In June 2016, the shareholders’ meetings of E.ON SE and Uniper SE decided to spin off Uniper from E.ON.[4] It took place through a retrospective transfer of Uniper’s business to 195 million new shares created by an increase in noncash capital as of January 1, 2016.[13] It was intended to deconsolidate Uniper from E.ON in the first half of 2017.[4] E.ON sold a 53% stake in the business through a listing on the Frankfurt Stock Exchange on 12 September 2016.[14]

In November 2017, Uniper completed the sale of its stake on the Russian gas field Yuzhno-Russkoye. The Uniper share of 25% was sold for €1.749 million plus the transferred liquid funds to the Austrian OMV Group.[15]

In September 2017, Finnish power company Fortum announced it would buy E.ON’s remaining 47% stake in Uniper and make a bid for the other 53% held by other shareholders, valuing Uniper at €8 billion. A takeover bid was submitted on 7 November 2017. E.ON accepted the offer on 8 January 2018.[16] Fortum acquired in total a 47.35% stake. The deal was completed on 26 June 2018, after approval by various authorities.[17]

On 4 July 2019, Uniper and EPH (“Energetický a průmyslový holding a.s.”) signed the agreements for the sale of Uniper’s activities in France. The scope of transaction includes Uniper’s French sales business, two gas-fired power plants in Saint-Avold (Lorraine), two coal-fired power plants in Saint-Avold and Gardanne (Provence), the biomass power plant “Provence 4 Biomasse” in Gardanne and wind and solar power plants.[18]

Source: https://en.wikipedia.org/wiki/Uniper

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