Daniel Křetínský's EPH submits bid to acquire German utility Uniper

Daniel Křetínský's Energetický a průmyslový holding (EPH) has filed an unsolicited, non-binding proposal to acquire the full Uniper conglomerate, the German news site reports. The offer positions EPH as the only interested party among several investors and strategic buyers that had expressed interest before the submission deadline set by the German government and its advisers from JP Morgan and UBS. Uniper, which struggled after the 2022 disruption of Russian gas deliveries, was partially nationalised and is now slated for privatisation, with the state planning to reduce its ownership in the coming years.

The company's supervisory board, led by Martin Geilhorn, has already warned that a sale to a strategic investor would be viewed as a hostile takeover, and employee opposition is expected. Uniper remains a key player in Germany's critical energy infrastructure, supplying gas to roughly 500 industrial firms and 500 local authorities, and employs about 7,200 staff.