Uniper SE stock attracts RWE and KKR bid interest

Published on 09/29/2026 at 15:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Uniper SE stock faces takeover interest from RWE and KKR after a non-binding bid was reported on September 29, 2026. First-half adjusted EBITDA reached EUR 711 million.

Uniper SE, DE000UNSE018, Illustration mit AI erstellt.

Uniper SE stock (ISIN DE000UNSE018) is tied to first-half 2026 adjusted EBITDA of EUR 711 million, up from EUR 379 million in the prior-year period, according to Yahoo Finance in the transcript of the August 11, 2026 results call. The latest ownership signal came on September 29, 2026, when RWE and KKR were reported to have submitted a non-binding offer for the German utility.

RWE and KKR enter the contest

According to Investing.com on September 29, 2026, the offer was made jointly by RWE and KKR after the deadline for non-binding bids passed in the prior week. Equinor and a Brookfield Asset Management and Canada Pension Plan Investment Board consortium were also identified as interested parties.

The reported contest matters because Germany still owns almost all of Uniper, while the government must reduce its holding to no more than 25 percent plus one share by the end of 2028, according to Investing.com.

Guidance improves after strong half

Uniper's adjusted net income reached EUR 388 million in the first half of 2026, versus EUR 135 million a year earlier, according to Yahoo Finance. The company also reported an economic net cash position of EUR 4.5 billion at mid-year, giving the takeover debate a balance-sheet dimension.

Management raised the lower end of its 2026 adjusted EBITDA guidance to EUR 1.1 billion from EUR 1.0 billion while keeping the upper end at EUR 1.3 billion. Adjusted net income guidance stands at EUR 500 million to EUR 600 million, compared with a previous range of EUR 350 million to EUR 600 million, according to Yahoo Finance.

Security of supply shapes valuation

Uniper plans EUR 5 billion of growth investment through 2030, with more than half directed toward flexible generation, according to Yahoo Finance. The company has identified more than 10 sites suitable for data centers and is developing three projects, adding a longer-term growth angle to its generation portfolio.