Uniper Year-End Result Affected by $600 Million Arbitration Award Against Subsidiary
27 Novembro 2023 - 3:48AM
Dow Jones News
By Pierre Bertrand
Uniper said that an arbitration award of an estimated 550
million euros ($602.1 million) against a subsidiary will have an
impact on its year-end result.
The German utility said that the award against its subsidiary
stems from arbitration proceedings which began in early 2021
between it and an European energy company and relates to the
pricing provisions of a long-term agreement for the supply of
liquified natural gas, which has since expired, the company said
Sunday evening.
Uniper added that it was notified of the award against its
subsidiary on Friday evening.
"Uniper is currently analyzing the reasoning of the decision and
reviewing all possible avenues of legal recourse against the
award," it said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
November 27, 2023 01:33 ET (06:33 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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