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Uniper reviewing legal situation with state administration of Unipro

"Uniper has de facto no longer been able to exercise operational control over Unipro since the end of 2022," the energy major said

MOSCOW, April 26. /TASS/. Unipro is currently considering the situation with the temporary establishment of state administration over Unipro stocks in Russia, the German energy company said on Wednesday.

"Uniper is currently reviewing the legal situation," the company said.

The company already decided to sell this stake in summer 2021 and informed the Russian government about it in fall of 2021, Uniper informed. "A contract with a Russian buyer was signed in September 2022. The intention to sell was submitted to the Russian authorities for approval, but this has not yet been granted," the company said.

"Uniper has de facto no longer been able to exercise operational control over Unipro since the end of 2022. In balance sheet terms, Unipro has been deconsolidated and practically completely written off since the end of 2022," the energy major added.

Russian President Vladimir Putin signed earlier a decree establishing state management by the Russian Federal Agency for State Property Management over 83.73% stake in Unipro Russia and over 98% in Fortum’s Russian division. The move was made in response to some states’ unfriendly actions towards Russia.