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Germany to Nationalize Gas Giant Uniper in Historic Bailout

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The German government is planning to inject about 8 billion euros ($8 billion) into Uniper SE as part of a historic agreement to nationalize the gas giant and stave off a collapse of the country’s energy sector.

Uniper confirmed on Tuesday it is in final discussions with the government over a package that would include an 8 billion-euro capital increase, subscribed entirely by the government. Berlin will also buy the shares of its main shareholder, Finland’s Fortum Oyj.