Uniper concludes divestment of 20% stake in BBL

Uniper has announced the completion of the sale of its 20% stake in the Dutch BBL Company V.O.F. (BBL), which is the owner of a 235-km gas interconnection project which links the UK and the Netherlands. The stake has been sold to Enagas earlier this year.

This non-strategic participation divestment is a part of the remedies that Uniper has to fulfill under the EU state aid law. On December 20, 2022, the EU Commission approved the stabilization package for Uniper as per state aid law. The EU Commission has laid out several structural remedies that Uniper has to fulfill as a part of the said approval.

The gas interconnection owned by BBL is a significant asset that enables the transportation of gas at an international level between the UK and the Netherlands. Fluxys and Gasunie, due to their pre-emption right, will become the majority shareholders in BBL after the sale of Uniper's stake.