Uniper agrees to sell its 20% stake in the Opal pipeline

Uniper ($UN0) agreed to sell its 20% interest in the Opal gas pipeline to Hy24, a joint venture between Ardian and FiveT Hydrogen. No financial terms were disclosed. The disposal advances the asset-sale commitments required by the European Commission in connection with approval of Uniper’s 2022 state bailout.

Completion depends on regulatory clearance and pipeline co-owner Gascade not exercising its pre-emption right. Reuters reported that the sale would leave the helium business and the majority interest in Russia’s Unipro as the remaining required disposals, although Uniper has indicated that selling the Russian stake may not be possible. The agreement therefore represents progress on the restructuring obligations, not confirmation that the full divestment program has finished.

Sources:

• Reuters via Euronext — Opal stake sale