Apollo submits non-binding bid for German energy firm Uniper, sources say

Equinor ASA

07/10/2026 12:02

By Christoph Steitz and Anousha  Sakoui
FRANKFURT/LONDON, Oct 7 (Reuters) - Apollo Global Management APO.N has submitted a non-binding offer for German state-owned energy firm Uniper UN0k.DE, two people with direct knowledge of the matter said, joining the auction for one of Germany's biggest utilities.
Potential suitors had until September 21 to submit indicative bids for Uniper, which was bailed out by Berlin in 2022 for €13.5 billion ($15.1 billion).
A sale of Uniper could value the firm at around €10 billion and become one of Europe's biggest utility deals this year, Reuters previously reported.
Germany's finance ministry, which oversees Berlin's 99.12% stake in Uniper and is being advised by UBS and JP Morgan, has said it is looking to sell up to 74.12% in the energy firm.
Czech energy firm EPH, which is controlled by billionaire Daniel Kretinsky, as well as a consortium of investment firm Brookfield BN.TO and Canada's CPPIB have submitted indicative bids, Reuters previously reported. 
Norway's Equinor EQNR.OL and a consortium consisting of KKR KKR.N with Germany's rival RWE RWEG.DE have also submitted bids, one of the two people said.
Suitors are expected to be informed about whether they can proceed to the next round in the coming weeks, a third person involved in the talks said.
The people spoke on condition of anonymity because they were not authorized to speak publicly.
Apollo, Uniper and KKR declined to comment. Equinor was not immediately available for comment.
($1 = €0.8933)

 (Reporting by Christoph Steitz and Anousha Sakoui, additional reporting by Nora Buli, editing by Thomas Seythal)
 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))