Uniper workers oppose sale, push for IPO to avoid break-up

Uniper: Uniper is a major German energy utility focused on power generation, gas trading, and supply. It is currently undergoing privatization by the German government as part of efforts to divest from its majority stake following earlier state support during the energy crisis. Worker representatives at the company are pushing back against a potential strategic sale due to concerns it could lead to a breakup of the business. Brookfield: Brookfield is a global asset manager active in infrastructure and energy investments. It has teamed up with Canada's CPPIB to submit an indicative bid for Uniper as part of the ongoing privatization process. The firm has declined to comment on its involvement in the potential acquisition. Martin Geilhorn: Martin Geilhorn serves as the head of Uniper's works council, representing employee interests on the company's supervisory board. He has publicly stated opposition to a sale of Uniper to strategic bidders, arguing that only an initial public offering would keep the company intact. His comments come amid ongoing investor roadshows and bid processes for the utility. Investor Interest: Initial investor meetings for a potential Uniper IPO have shown positive interest from market participants seeking shares in the company. Privatization Process: The German government, which holds nearly all of Uniper, is advancing plans to sell a majority stake while retaining a blocking minority position in the utility.