Křetínský eyes German energy giant Uniper, but staff may resist

Czech billionaire Daniel Křetínský, through his holding company EPH, has submitted a non-binding offer to take over the German energy company Uniper. EPH is the only bidder for the purchase, but the deal could run into a serious obstacle — resistance from the company's own employees.

According to the German outlet Handelsblatt, Uniper's works council said early in the talks that it would view a sale to a strategic investor as a hostile takeover. Winning over the roughly 7,200 employees of the company will not be easy for the Czech Republic's third-richest man.

This is far from Křetínský's group's first move in Germany. In early 2025, the EP Energy Transition structure already gained full control of the German power producer Leag.

Uniper is a company of strategic importance to Germany: it supplies energy to around five hundred industrial enterprises and five hundred municipal utilities across the country and is classified as critical infrastructure. After Russia's invasion of Ukraine, the company fell into crisis when gas supplies were cut off, forcing the German state to buy up 99% of its shares. The European Union approved the move on condition that the state's stake be reduced to 25% by 2028.

Over the past two years, Uniper's financial position has improved markedly, and the company has proposed resuming dividend payments for the first time in several years — making it an attractive takeover target for Křetínský's energy empire.