Uniper takes open-minded M&A approach to Russian business – CEO

DUESSELDORF/FRANKFURT — Uniper is looking at various scenarios for its business in Russia, with options ranging from growing in renewable energy to even considering a sale if conditions are right, Chief Executive Andreas Schierenbeck said.

“In principle we’re always looking at all options for our assets. Asset rotation has always been part of our strategy,” he told Reuters. “But we’re not in any talks at the moment to completely exit any of our businesses.”

Schierenbeck’s comments address speculation that Uniper’s Russian unit, Unipro, caught the eye of Inter RAO , which flared up again in September but was denied later.

“The rumors suggest that we have interesting assets in Russia that may attract outside interest,” he said. “If we find that an offer for an asset is so attractive that it makes sense for us to think about it then of course we will do that. That’s not an ideological decision, it’s an entrepreneurial decision.”

Unipro, in which Uniper owns 83.7%, has a market value of 183.3 billion roubles ($2.48 billion) and operates about 11 gigawatts of coal- and gas-fired power plants in the country.

($1 = 73.8885 roubles) (Reporting by Tom Kaeckenhoff, Christoph Steitz and Vera Eckert; Editing by Thomas Seythal)