German authorities have begun preparations for the sale of Gazprom Germania, the subsidiary of Gazprom that was seized (now known as Sefe). The company is valued at approximately €6 billion.

The German Ministry of Economy has already announced a tender for legal consultants, and investment banks are submitting applications to the state-owned bank KfW to organize the transaction.

Berlin is considering options for a direct sale to an investor or for taking the company public.

By the end of 2028, the German government is obligated to reduce its stake in the country's largest gas importer to a maximum of 25% plus one share, as required by the European Commission. Previously, the Kremlin had stated that nationalization was unacceptable.

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