BERLIN (AP) — German energy supply giant Uniper is asking the government for a bailout amid a growing supply crisis over Russian natural gas.
The company said in a statement Friday that its board has applied to the government for “stabilization measures.” The move, which is expected to see the government pump billions of euros (dollars) into Uniper to keep the company afloat, had been widely expected.
Uniper said measures were "aimed at ceasing the current accumulation of substantial losses, covering Uniper’s liquidity needs and protecting Uniper’s investment-grade credit rating.”