Germany to Lend Up to $10.4 Billion to Save Ex-Gazprom Unit
- Unit was brought under control of energy regulator in April
- Government wants to prevent threat to energy supply security
Gazprom Germania Gmbh headquarters in Berlin.
Photographer: Liesa Johannssen-Koppitz/BloombergThis article is for subscribers only.
The German government will lend as much as 10 billion euros ($10.4 billion) to rescue a former arm of Gazprom PJSC that was brought under the control of the country’s energy regulator in April, according to people familiar with the plan.
Under the terms of the bailout, state-owned bank KfW Group will provide the loan, part of which could eventually be converted into a direct stake under a new form of trusteeship, the government said Tuesday in an emailed statement, without providing a figure.
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Germany to Lend Up to $10.4 Billion to Save Ex-Gazprom Unit