Uniper SE said Wednesday that the German government would spend 8 billion euros ($7.9 billion) to take a 99% stake in the company and nationalize the country’s largest utility. 

The German government would also acquire all the shares held by Uniper’s largest stakeholder, Finnish energy company Fortum Oyj. The deal amends a bailout announced in July for Germany to take a 30% stake in Uniper. 

“Today’s agreement provides clarity on the ownership structure, allows us to continue our business and to fulfill our role as a system-critical energy supplier,” said Uniper CEO Klaus-Dieter Maubach. “This secures the energy supply for companies, municipal utilities, and consumers. The amendment of the stabilization package announced in July was necessary against the backdrop of the...