Germany prepares for possible nationalisation of Gazprom Germania - paper
Reuters
The logo of Gazprom Germania is pictured at their headquarters, in Berlin, Germany April 1, 2022. REUTERS/Fabrizio Bensch
BERLIN, Aug 28 (Reuters) - The German government has set up a holding company to carry out a possible nationalisation of Gazprom Germania, the energy business abandoned by Russia's Gazprom (GAZP.MM) in April, Welt am Sonntag reported on Sunday.
Germany's energy regulator said in April it would administer the company -- a trading, storage and transmission business -- in the interests of Germany and Europe. read more
Under the name Securing Energy for Europe Holding GmbH (SEEHG), the holding company is responsible for the company investments, the newspaper reported, citing a government document.
Two lawyers from CMS Hasche Sigle law firm are the managing directors, it added.
CMS Hasche Sigle declined to comment on the report, citing confidentiality obligations.
Germany's economy ministry said it was aware of the holding company and that its establishment was a precautionary step for any restructuring measures.
"It is a purely precautionary institution that currently only exists as a corporate law shell," a spokesperson for the ministry told Welt am Sonntag.
Reuters
The logo of Gazprom Germania is pictured at their headquarters, in Berlin, Germany April 1, 2022. REUTERS/Fabrizio Bensch
BERLIN, Aug 28 (Reuters) - The German government has set up a holding company to carry out a possible nationalisation of Gazprom Germania, the energy business abandoned by Russia's Gazprom (GAZP.MM) in April, Welt am Sonntag reported on Sunday.
Germany's energy regulator said in April it would administer the company -- a trading, storage and transmission business -- in the interests of Germany and Europe. read more
Under the name Securing Energy for Europe Holding GmbH (SEEHG), the holding company is responsible for the company investments, the newspaper reported, citing a government document.
Two lawyers from CMS Hasche Sigle law firm are the managing directors, it added.
CMS Hasche Sigle declined to comment on the report, citing confidentiality obligations.
Germany's economy ministry said it was aware of the holding company and that its establishment was a precautionary step for any restructuring measures.
"It is a purely precautionary institution that currently only exists as a corporate law shell," a spokesperson for the ministry told Welt am Sonntag.
Similar Readings (5 items)
Russia's Gazprom resumes gas supply to Germany
Russia's Gazprom halting gas supplies to Germany, France
Germany declares 'alarm' stage of emergency gas plan amid reduced Russian flows
EU mulls Russian oil sanctions, warns against gas payments in rubles
German govt. to bailout energy giant Uniper
Summary
Germany is preparing for potential nationalisation of Gazprom Germania, following Gazprom's abandonment in April. A holding company named Securing Energy for Europe Holding GmbH (SEEHG) has been established to manage the trading, storage, and transmission business. The managing directors are from