SEFE seeks 2 billion euro capital boost for privatization
SEFE proposed a capital increase of up to 2 billion euros to begin its privatization. The move aims to cut the German state's stake to 25% by the end of 2028.
The state-owned energy company SEFE has proposed a capital increase of up to 2 billion euros ($2.35 billion) to initiate its privatization process in Germany. This move is designed to comply with European Union mandates requiring the federal government to reduce its shareholding to a blocking minority by the end of 2028.
Formerly a subsidiary of GAZPROM PJSC, SEFE was nationalized by the German government in 2022 for 6.3 billion euros following the energy crisis triggered by the invasion of Ukraine by Russia. The company, which stands for Securing Energy for Europe, is a vital component of the national gas supply, managing 10% of the country's gas network system.
