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Uniper investors approve capital reduction, pave way for state exit

Reuters
·1-min read
FILE PHOTO: Illustration shows Uniper logo

FRANKFURT (Reuters) - Uniper's shareholders on Friday approved a proposed capital cut that will enable the bailed-out firm to pay dividends again and the German government, which took a 99% stake during Europe's energy crisis, to divest its stake again.

The proposal was approved during Uniper's extraordinary general meeting, the company said.

Under the European Commission's approval of Uniper's government bailout -- which was a result of the suspension of Russian gas supplies -- Berlin is required to reduce its ownership to 25% plus one share by the end of 2028.

(Reporting by Christoph Steitz; Editing by Sarah Marsh)