FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: The other two banks ended their involvement at the same time at this private bank. This cannot however, be seen as a sign of a lack of confidence as one of the banks still provided financing for two separate projects.
French: Les deux autres institutions ont mis fin à leur engagement en même temps que cette banque privée, mais on ne peut y voir le signe d’une perte de confiance, car l’une de ces institutions a continué de cofinancer deux projets spécifiques.
Portuguese: Muito embora outros dois bancos tenham posto termo ao seu compromisso ao mesmo tempo que este banco privado, tal facto não deve ser visto como um sinal de falta de confiança uma vez que um dos bancos continuou a financiar dois projectos distintos.
English: Accordingly, the Commission considers that the remuneration was not proportional to the risk and that the silent participation was not provided on market conditions. The silent participation thus conferred on Bike Systems an advantage that the company would not have obtained on the market.
French: En conséquence, la Commission estime que la rémunération n’était pas adaptée aux risques et que la participation tacite n’a pas été prise aux conditions du marché, mais qu’au contraire, elle a procuré à Bike Systems un avantage dont elle n’aurait pu bénéficier sur le marché.
English: Biria GmbH inherited all the debts and liabilities of Biria AG as was and Sachsen Zweirad GmbH. It also owns the same assets and carries out the same activities as Biria AG as was and Sachsen Zweirad AG.
French: Biria GmbH a pris à son compte toutes les dettes et tous les engagements de l’ancienne Biria AG et de Sachsen Zweirad GmbH et possède les mêmes éléments d’actifs et mène les mêmes activités qu’elles.
English: Contrary to what Germany claims, the Commission is most certainly of the view that Sachsen Zweirad GmbH was a company in difficulty. Consequently, the new Biria GmbH also ‘inherited’ the difficulties of Sachsen Zweirad GmbH.
French: Contrairement à l’Allemagne, la Commission estime que Sachsen Zweirad GmbH se trouvait bel et bien en difficulté et que la nouvelle Biria GmbH a «hérité» de ses difficultés.
English: Biria GmbH (now Biria AG) thus faced serious liquidity problems at the time the guarantee was provided and so was a company in difficulty. This assessment is borne out by the fact that three banks withdrew from the financing of Biria's activities and even agreed to waive a large part of their claims in return for the immediate redemption of remaining claims.
French: Biria GmbH (devenue Biria AG) avait donc de graves problèmes de liquidités au moment de l’octroi de la garantie et était par conséquent en difficulté, un constat étayé par le fait que trois banques se sont retirées du financement de ses activités et se sont même déclarées prêtes à renoncer à une grande partie de leurs créances si le reste de celles-ci leur était remboursé sans délai.
English: Moreover, no collateral was provided for the silent participation, increasing the risk of default. In addition to the missing collateral, the silent participation is also subordinated to all other loans in the event of insolvency, further increasing the risk of default.
French: En outre, la participation tacite n’a fait l’objet d’aucune sûreté, ce qui augmente le risque de défaillance, et le fait qu’elle prend rang derrière tous les autres prêts ne fait qu’augmenter davantage ces risques en cas d’insolvabilité.
English: In the present case, therefore, the Commission considers that Bike Systems would have had to pay an interest rate at least equal to the reference rate plus a premium of 400 basis points because it was in difficulty and a premium of a further 400 basis points because of the lack of any collateral. It also considers an additional 200 basis points appropriate because of the low ranking of the silent participation in the event of insolvency.
French: Par conséquent, la Commission estime en l’espèce que Bike Systems aurait dû verser un intérêt correspondant au moins au taux de référence majoré d’une prime de 400 points de base, car c’était une entreprise en difficulté, ainsi qu’une prime supplémentaire de 400 points de base en raison de l’absence de sûretés, de même qu’un supplément de 200 points de base parce que la participation tacite prend rang derrière les autres créances en cas d’insolvabilité.
English: The guarantee for the loan to Sachsen Zweirad GmbH was secured only by an absolute guarantee (‘selbstschuldnerische Bürgschaft’) provided by the group companies. The economic value of such general guarantees is very low.
French: La garantie du prêt dont a bénéficié Sachsen Zweirad GmbH n’était assortie que d’une caution solidaire, dont la valeur économique est d’ordinaire très faible.
English: As regards the loan and the guarantee to Biria GmbH, the collateral provided had a higher economic value than that for the guarantee to Sachsen Zweirad GmbH. Nevertheless, the collateral is still lower than that normally required. The guarantee to Biria GmbH is secured by a first-rank mortgage on property of Bike Systems amounting to EUR 15m. The mortgage is, however, subordinated to another loan of EUR 2m.
French: En ce qui concerne le prêt et la garantie accordés à Biria GmbH, les sûretés accordées avaient une valeur économique plus élevée que pour la garantie accordée à Sachsen Zweirad GmbH, mais néanmoins plus faible que les sûretés exigées habituellement.
English: The Commission was not provided with any information on the relevant market or on the share of the Biria Group on that relevant market. It was not provided either with any information on compensatory measures to limit the company's presence on the market.
French: Or, la Commission ne dispose d’aucune information sur le marché en cause ni sur la part du groupe Biria sur ce marché, ni d’ailleurs sur les éventuelles mesures de compensation prises pour limiter la présence de l’entreprise sur le marché.
English: Please also explain what alternative measures are available under national law to effect recovery. Where relevant, please indicate the legal basis for the measures taken or planned.
French: Veuillez également indiquer, le cas échéant, les autres mesures prévues par le droit national pour procéder à la récupération et indiquer la base juridique des mesures prévues/déjà prises.
Portuguese: Especificar igualmente as medidas alternativas previstas na legislação nacional para a recuperação de auxílios e especifique a base jurídica das medidas já tomadas ou previstas.
English: The exemptions provided for in Article 87(3)(b) and (d) do not apply either. They refer to aid to promote the execution of an important project of common European interest and aid to promote culture and heritage conservation.
Italian: Né si possono far valere le deroghe di cui all’articolo 87, paragrafo 3, lettere b) e d), che si riferiscono agli aiuti volti a promuovere la realizzazione di un importante progetto di comune interesse europeo o la cultura e la conservazione del patrimonio.
Hungarian: Nem alkalmazhatóak az EK-Szerződés 87. cikke (3) bekezdésének b) és d) pontjában említett mentességek sem, melyek közös európai érdeket szolgáló fontos projekt megvalósításának előmozdítására nyújtott vagy a kultúrát és a kulturális örökség megőrzését előmozdító támogatásokra vonatkoznak.
English: The Commission requested information from Germany by letter of 9 September 2003, to which Germany replied by letter of 14 October 2003, registered as received on 16 October. It requested on 9 December 2003 further information which Germany submitted by letter of 19 March 2004, registered as received on the same day.
Polish: Komisja pismem z 9 września 2003 r. zwróciła się o przekazanie informacji, których Niemcy udzieliły w piśmie z 14 października 2003 r., zarejestrowanym 16 października 2003 r. Komisja w dniu 9 grudnia 2003 r. zażądała dodatkowych informacji, których Niemcy udzieliły w piśmie z 19 marca 2004 r., zarejestrowanym tego samego dnia.
Lithuanian: 2003 m. rugsėjo 9 d. raštu Komisija paprašė informacijos, kurią Vokietija pateikė 2003 m. spalio 14 d. raštu, užregistruotu 2003 m. spalio 16 d.2003 m. gruodžio 9 d. Komisija paprašė papildomos informacijos, kurią Vokietija pateikė 2004 m. kovo 19 d. raštu, užregistruotu tą pačią dieną.
English: The Commission requested on 6 February 2006 further information which Germany submitted by letter of 5 April 2006, registered as received on 7 April. The Commission sent another request for information on 19 July 2006, to which Germany replied by letter of 25 September, registered as received on 26 September.
Polish: Komisja w piśmie z dnia 6 lutego 2006 r. poprosiła o udzielenie informacji uzupełniających, na które Niemcy udzieliły odpowiedzi w piśmie z dnia 5 kwietnia 2006 r., zarejestrowanym 7 kwietnia 2006 r. Komisja w dniu 19 lipca 2006 r. przesłała kolejną prośbę o dodatkowe informacje, na które Niemcy odpowiedziały pismem z dnia 25 września 2006 r., zarejestrowanym dnia 26 września 2006 r.
Lithuanian: 2006 m. vasario 6 d. raštu Komisija paprašė papildomos informacijos, kurią Vokietija pateikė 2006 m. balandžio 5 d. raštu, užregistruotu 2006 m. balandžio 7 d.2006 m. liepos 19 d. Komisija išsiuntė dar vieną prašymą pateikti papildomos informacijos, į kurį Vokietija atsakė 2006 m. rugsėjo 25 d. raštu, užregistruotu 2006 m. rugsėjo 26 d.
English: On its homepage Biria announced planned sales of 850000 bicycles in 2005, which would have implied a further increase in sales compared with 2004. Prophete and Pantherwerke also point out that, according to a press release, the owner of Biria AG has sold the business to the Lone Star Group, a private equity fund.
Lithuanian: Savo tinklalapyje Biria paskelbė, kad 2005 m. ji ketina parduoti 850000 dviračių ir taip padidinti apyvartą, palyginti su 2004 m. Be to, Prophete ir Pantherwerke atkreipia dėmesį į pranešimą spaudai, kuriame teigiama, kad Biria AG savininkas verslą pardavė privačiam investiciniam fondui Lone Star.
English: On its homepage Biria announced planned sales of 850000 bicycles in 2005, which would have implied a further increase in sales compared with 2004. Vaterland-Werke also points out that, according to a press release, the owner of Biria AG has sold the business to the Lone Star Group, a private equity fund.
Lithuanian: Savo tinklalapyje Biria paskelbė, kad 2005 m. ji ketina parduoti 850000 dviračių ir taip padidinti apyvartą, palyginti su 2004 m. Be to, Vaterland-Werke atkreipia dėmesį į pranešimą spaudai, kuriame teigiama, kad Biria AG savininkas verslą pardavė privačiam investiciniam fondui Lone Star.
English: The turnover of the competitor has increased while the sales of the Biria Group have decreased. At the same time, the EBITDA of the competitor fell while that of Biria Group remained constant.
Polish: Równocześnie wskaźnik EBITDA (zysk przedsiębiorstwa przed potrąceniem odsetek od zaciągniętych kredytów, podatków i amortyzacji) u konkurenta uległ równocześnie zmniejszeniu, natomiast w grupie Biria utrzymał się na stałym poziomie.
Latvian: Konkurenta EBITDA (uzņēmuma peļņa pirms procentu, nodokļu nomaksas un izdevumu norakstīšanas) tajā pašā laikā ir samazinājusies, bet Biria grupai palikusi nemainīga.
English: The comments were transmitted to Germany by letters of 6 February and 2 March 2006. Germany replied by letters of 5 April, registered as received on 7 April, and of 12 May 2006, registered as received on the same day, respectively.
Polish: Uwagi te przedłożone zostały Niemcom w pismach z dnia 6 lutego 2006 r. i 2 marca 2006 r. Niemcy udzieliły odpowiedzi w piśmie z dnia 5 kwietnia 2006 r., zarejestrowanym dnia 7 kwietnia 2006 r., oraz w piśmie z dnia 12 maja 2006 r., zarejestrowanym tego samego dnia.
English: Measure 2: On 20 March 2003 the Land of Saxony provided — originally until end-2008 — an 80 % guarantee for an operating credit of EUR 5.6m in favour of Sachsen Zweirad GmbH. The guarantee was given back in January 2004 and replaced by a guarantee to Biria GmbH (see Measure 3).
Polish: Środek 2: w dniu 20 marca 2003 r. kraj związkowy Saksonia przyznał gwarancję w wysokości 80 % na kredyt operacyjny wynoszący 5,6 mln EUR na rzecz Sachsen Zweirad GmbH, której termin obowiązywania upływał pierwotnie z końcem 2008 r. Gwarancja ta została w styczniu 2004 r. zwrócona i zastąpiona gwarancją na rzecz Biria GmbH (patrz: środek 3).
English: The guarantees in the case of Measures 2 and 3 enabled Sachsen Zweirad GmbH and Biria GmbH to obtain better financial terms for loans than otherwise normally available on the financial markets. The aid element of these guarantees is the difference between the interest rate that Sachsen Zweirad GmbH and Biria GmbH would have had to pay on a loan on market conditions, i.e. without a guarantee, and the interest rate at which the guaranteed loan was actually provided. This should correspond to the premium that a market economy guarantor would have required for these guarantees.
Polish: Różnica ta mogła być równa premii, jakiej działający na zasadach rynkowych poręczyciel żądałby za udzielenie gwarancji.
English: In its comments on the initiation of the formal investigation procedure, Germany argues that the silent participation by gbb was provided on market conditions. It agrees with the Commission that the risk attaching to a silent participation is higher than that attaching to a traditional bank loan.
Portuguese: Nas observações que formulou a propósito do início do procedimento formal de investigação, a Alemanha argumentou que a participação passiva da gbb foi efectuada em condições de mercado, tendo referido que concorda com a Comissão quanto ao facto de o risco de uma participação passiva ser mais elevado do que um empréstimo tradicional.
English: It therefore concludes that the agreed remuneration for the silent participation of 12.25 % was an appropriate reflection of the associated risk. In its view, the fact that part of the remuneration is variable is irrelevant as this is common in the case of silent participations and corresponds to the behaviour of a market economy investor.
Portuguese: A Alemanha concluiu que a remuneração acordada para a participação passiva de 12,25 % era proporcional ao risco e argumentou que o facto de uma parte da remuneração ser variável era irrelevante, uma vez que isso era normal em operações deste tipo e correspondia ao comportamento de um investidor numa economia de mercado.
English: The Commission concludes therefore that the silent participation and the two guarantees constitute state aid within the meaning of Article 87(1) of the EC Treaty and that the two guarantees were not provided under an approved aid scheme. Measures 1, 2 and 3 thus constitute new aid which has to be assessed accordingly.
Slovenian: Zato je Komisija sklenila, da predstavljajo tiha udeležba in obe jamstvi državno pomoč v smislu člena 87(1) Pogodbe ES ter da jamstvi nista bili zagotovljeni v skladu z odobrenim programom pomoči.
English: In its comments on the initiation of the formal investigation procedure, Vaterland-Werke GmbH & Co. KG (Vaterland-Werke) points out that, with a total production of between 700000 and 800000 bicycles, the Biria Group is the largest bicycle manufacturer in Germany. The only comparable company is MIFA Mitteldeutsche Fahrradwerke with an annual production of around 700000 bicycles.
Swedish: I sin synpunkter på inledandet av det formella undersökningsförfarandet förklarar Vaterland-Werke GmbH & Co. KG (nedan kallat ”Vaterland-Werke”) att Biria-koncernen med sina 700000–800000 cyklar årligen är den största tillverkaren i Tyskland.
English: The aid element of these guarantees is the difference between the interest rate that Sachsen Zweirad GmbH and Biria GmbH would have had to pay on a loan on market conditions, i.e. without a guarantee, and the interest rate at which the guaranteed loan was actually provided. This should correspond to the premium that a market economy guarantor would have required for these guarantees.
Swedish: Stödinslaget i garantin i åtgärd 2 och garantin i åtgärd 3 motsvarar differensen mellan den ränta som Sachsen Zweirad GmbH och Biria GmbH skulle ha fått betala för ett lån på marknadsvillkor (dvs. utan garanti) och den ränta som faktiskt gällde för den garanterade lånet.