Uniper Year-End Result Affected by $600 Million Arbitration Award Against Subsidiary
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.-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Top-Performing Dividend Stocks of Q3 2024
-
33 Undervalued Stocks
-
Communication Services: Cable’s Broadband Dominance Isn’t as Strong as It Once Was
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities
-
Best- and Worst-Performing Stocks of Q3 2024
-
Top Stocks to Own From the Best Fund Managers
-
2 Cheap Stocks Top Managers Have Been Buying
-
The 10 Best Companies to Invest in Now