PARIS (Reuters) – The European Commission said in a statement on Tuesday it had approved a 34.5 billion euro German plan to recapitalise German natural gas trader Uniper.
It said that under EU State aid rules the recapitalisation measure notified by Germany complied with conditions on the necessity, appropriateness and size of the intervention.
“The measure aims at restoring the financial position and liquidity of Uniper in the exceptional situation caused by Russia’s war of aggression against Ukraine and the subsequent disruption of gas deliveries, while maintaining the necessary safeguards to limit competition distortions,” it said.
(Reporting by GV De Clercq; Editing by Chris Reese)
