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2024-06-13 15:18:58 +0300

Germany Prepares to Lend Billions to Rescue Ex-Gazprom Unit

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Bloomberg
By Todd Gillespie

The German government is preparing to lend billions to rescue a former arm of Gazprom PJSC now under the control of the country’s energy regulator, according to people familiar with the matter.

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A bailout for Gazprom Germania GmbH could come as early as this week, with state-owned bank KfW Group expected to issue a loan in the range of 5 billion euros ($5.2 billion) to 10 billion euros, said the people, who asked not to be identified because the information is private. Talks are still ongoing and plans could change, the people said.

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