Uniper's works council rejects private sale, pushes for IPO revival
Uniper’s works council has firmly opposed any off-market sale of the energy company. Instead, it is pushing for a return to the stock market through an initial public offering (IPO). The move aims to secure the firm’s independence while protecting jobs. The group works council, led by chair Martin Geilhorn, has called on the federal government to opt for a re-IPO. This approach would allow Uniper to remain independent rather than being sold privately. Geilhorn stressed the importance of maintaining the company’s autonomy.
Uniper currently employs around 7,000 people across its operations. Of these, 2,950 are based in Düsseldorf, making the city a key hub for the business. The works council’s stance reflects concerns over job security and the company’s future direction.
The rejection of an off-market sale comes as the government considers options for privatising its stake. The council’s preference for an IPO signals a desire for transparency and broader market involvement in Uniper’s next phase. The works council’s proposal centres on safeguarding Uniper’s long-term stability. A re-IPO would open the company to public investment while keeping decision-making within its existing structure. The federal government now faces a choice between this approach and alternative privatisation routes.
