Apollo Submits Non-Binding Bid for German Energy Firm Uniper

Apollo Global Management has submitted a non-binding offer for German energy company Uniper, according to people familiar with the matter. The move puts Apollo among the potential buyers competing for one of Germany’s largest utilities.

Germany’s government, which owns 99.12% of Uniper, is seeking to sell up to 74.12% of its stake. The company was rescued by Berlin in 2022 with a €13.5 billion bailout, and a potential sale could value Uniper at around €10 billion.

Apollo joins several other bidders, including Czech energy firm EPH, a Brookfield-CPPIB consortium, Norway’s Equinor and a KKR-RWE consortium. Potential buyers are expected to learn in the coming weeks whether they will advance to the next stage of the sale process.