TDR biz

Uniper (OTC:UNPPY) (OTC:UNPRF) shares plunged 28% in Germany on Monday following reports the company is in talks with the government over a potential bailout package of as much as €9B (~$9.4B) to help companies buckling under the cost of soaring prices for natural gas imports.

The government is considering a set of measures, including loans, taking an equity stake and passing part of rising gas prices on to customers.

A possible bailout for Uniper, Europe’s largest importer of Russian gas, could be modeled on pandemic relief for airline Lufthansa, which was saved

Huntsman (NYSE:HUN) is in advanced talks to sell its textiles unit to private equity firm SK Capital Partners in a deal that would value the business at less than $1B, Bloomberg reported on Tuesday.

The textile unit, which is headquartered in Singapore, totaled ~$100M in adjusted EBITDA in 2021.

SK Capital could combine the unit with Archroma, the business it built when it bought textile chemicals, paper specialties and emulsions assets from Clariant AG in 2013, according to the report.

Huntsman (HUN) said in December that it was conducting a strategic review for the unit