Apollo submits non-binding bid for German energy firm Uniper, sources say
APO•Apollo Global Management has submitted a non-binding offer for German state-owned energy firm Uniper, two people with direct knowledge of the matter said.
1. Apollo joins auction
Apollo Global Management has submitted a non-binding offer for German state-owned energy firm Uniper, joining the auction for one of Germany's biggest utilities. Potential suitors had until September 21 to submit indicative bids.
2. Sale process
Germany's finance ministry oversees Berlin's 99.12% stake in Uniper and is looking to sell up to 74.12% in the company. A sale could reportedly value Uniper at around €10 billion.
3. Other bidders
EPH, Brookfield and CPPIB, Equinor, and a consortium of KKR and RWE have also submitted bids, according to the article. Suitors are expected to learn in the coming weeks whether they can proceed to the next round.
