Uniper To Sell 20% Indirect Stake In BBL Co. V.O.F. To Enagas In €75 Mln Deal

(RTTNews) - Uniper SE (UNPRF.PK), a German energy major, Monday said it has reached an agreement with Spain´s energy company Enagas to sell its 20 percent participation in the Dutch BBL Company V.O.F.

The company said it has agreed with Enagas on a purchase price of around 75 million euros. The agreement with Enagas is subject to regulatory approvals and the non-execution of a pre-emption right of the other interestholders in BBL.

BBL is the owner of a 235-kilometre gas interconnection linking the UK and the Netherlands.

The company noted that the undersea gas pipeline has a maximum capacity of 15 bcm/y of direct flow between Balgzand in the Netherlands and Bacton in the UK and 5 bcm/y in the reverse direction.

Uniper said the divestment of its non-strategic participation is part of the remedies it must fulfill under EU state aid law.

In December 2022, the EU Commission approved the stabilization package for Uniper under state aid law. As part of the approval, the EU Commission set out a number of structural remedies that Uniper must fulfil.