Germany prepares for possible nationalisation of Gazprom Germania - paper

The German government has set up a holding company to carry out a possible nationalisation of Gazprom Germania, the energy business abandoned by Russia's Gazprom in April, Welt am Sonntag reported on Sunday. Two lawyers from CMS Hasche Sigle law firm are the managing directors, it added. CMS Hasche Sigle declined to comment on the report, citing confidentiality obligations.

The German government has set up a holding company to carry out a possible nationalisation of Gazprom Germania, the energy business abandoned by Russia's Gazprom in April, Welt am Sonntag reported on Sunday. Germany's energy regulator said in April it would administer the company -- a trading, storage and transmission business -- in the interests of Germany and Europe.

Under the name Securing Energy for Europe Holding GmbH (SEEHG), the holding company is responsible for the company investments, the newspaper reported, citing a government document. Two lawyers from CMS Hasche Sigle law firm are the managing directors, it added.

CMS Hasche Sigle declined to comment on the report, citing confidentiality obligations. Germany's economy ministry said it was aware of the holding company and that its establishment was a precautionary step for any restructuring measures.

"It is a purely precautionary institution that currently only exists as a corporate law shell," a spokesperson for the ministry told Welt am Sonntag.