Germany nationalizes energy giant Uniper as Russia squeezes gas supplies - CNBC

"Since the stabilisation package for Uniper was agreed in July, Uniper's situation has further deteriorated rapidly and significantly; as such, new measures to resolve the situation have been agreed," Fortum announced in a statement on Wednesday morning.

Fortum will deconsolidate Uniper as of the third quarter of 2022, the company said Wednesday, while Fortum's 4 billion euro loan to Uniper will be repaid and the Finnish company will be released from a 4 billion euro parent company guarantee.

"Under the current circumstances in the European energy markets and recognising the severity of Uniper's situation, the divestment of Uniper is the right step to take, not only for Uniper but also for Fortum," said Fortum CEO Markus Rauramo.