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Germany Faces Dilemma of Owning Russian Assets in Uniper Buyout

  • No buyers emerging for Unipro power plants subsidiary
  • One option is to swap Unipro for former Gazprom trading unit

Germany risks being left holding 2.2 billion euros ($2.1 billion) of unsellable Russian energy assets when it takes over Uniper SE at the end of the year.

The Dusseldorf-based utility has so far failed to find a potential buyer for its Russian subsidiary Unipro since putting it up for sale in March, according to people familiar with the matter. And the odds of a deal are vanishingly small amid Europe’s energy conflict with Russia, which escalated this week after a key natural gas pipeline was damaged in what Germany called an act of sabotage.