# Il-Ġurnal Uffiċjali C 266/2010

| | ISSN 1725-5198
  doi:10.3000/17255198.C_2010.266.mlt |
| --- | --- |
| Il-Ġurnal Uffiċjali
  tal-Unjoni Ewropea | C 266 |
| | |
| Edizzjoni bil-Malti | Informazzjoni u Avviżi | Volum 531 ta' Ottubru 2010 |

ISSN 1725-5198

doi:10.3000/17255198.C_2010.266.mlt

Il-Ġurnal Uffiċjali

tal-Unjoni Ewropea

C 266

Edizzjoni bil-Malti

Informazzjoni u Avviżi

Volum 531 ta' Ottubru 2010

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| Avviż Nru | Werrej | Paġna |
| --- | --- | --- |
| | II   Komunikazzjonijiet |
| | KOMUNIKAZZJONIJIET MINN ISTITUZZJONIJIET, KORPI, UFFIĊĊJI U AĠENZIJI TAL-UNJONI EWROPEA |
| | Il-Kummissjoni Ewropea |
| 2010/C 266/01 | Awtorizzazzjoni tal-għajnuna Statali fil-qafas tad-Dispożizzjonijiet tal-Artikoli 87 u 88 tat-Trattat tal-KE – Fir-rigward ta' dawn il-każijiet il-Kummissjoni ma tqajjimx oġġezzjonijiet (
  1
  ) | 1 |
| 2010/C 266/02 | Ebda oppożizzjoni għal konċentrazzjoni notifikata (Każ COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  ) | 2 |

Avviż Nru

Werrej

Paġna

II   Komunikazzjonijiet

KOMUNIKAZZJONIJIET MINN ISTITUZZJONIJIET, KORPI, UFFIĊĊJI U AĠENZIJI TAL-UNJONI EWROPEA

Il-Kummissjoni Ewropea

2010/C 266/01

Awtorizzazzjoni tal-għajnuna Statali fil-qafas tad-Dispożizzjonijiet tal-Artikoli 87 u 88 tat-Trattat tal-KE – Fir-rigward ta' dawn il-każijiet il-Kummissjoni ma tqajjimx oġġezzjonijiet (
  1
  )

1

1

2010/C 266/02

Ebda oppożizzjoni għal konċentrazzjoni notifikata (Każ COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  )

1

2

| | IV   Informazzjoni |
| --- | --- |
| | INFORMAZZJONI MINN ISTITUZZJONIJIET, KORPI, UFFIĊĊJI U AĠENZIJI TAL-UNJONI EWROPEA |
| | Il-Kummissjoni Ewropea |
| 2010/C 266/03 | Rata tal-kambju tal-euro | 3 |

IV   Informazzjoni

INFORMAZZJONI MINN ISTITUZZJONIJIET, KORPI, UFFIĊĊJI U AĠENZIJI TAL-UNJONI EWROPEA

Il-Kummissjoni Ewropea

2010/C 266/03

Rata tal-kambju tal-euro

3

| | V   Avviżi |
| --- | --- |
| | PROĊEDURI GĦALL-IMPLIMENTAZZJONI TAL-POLITIKA KUMMERĊJALI KOMUNI |
| | Il-Kummissjoni Ewropea |
| 2010/C 266/04 | Avviż dwar il-miżuri ta' antidumping fis-seħħ fir-rigward ta' importazzjonijiet ġewwa l-Unjoni ta' ċertu teraftalat tal-polietilene li joriġina, inter alia, mill-Malażja: bidla fl-isem ta’ kumpanija suġġetta għal rata individwali ta’ dazju antidumping | 4 |
| | PROĊEDURI DWAR L-IMPLIMENTAZZJONI TAL-POLITIKA TAL-KOMPETIZZJONI |
| | Il-Kummissjoni Ewropea |
| 2010/C 266/05 | Għajnuna mill-Istat – l-Awstrija – Għajnuna mill-Istat C 16/09 – Hypo Group Alpe Adria (HGAA) – Stedina biex jitressqu kummenti skont l-Artikolu 108(2) tat-TFUE (
  1
  ) | 5 |
| 2010/C 266/06 | Notifika minn qabel ta' konċentrazzjoni (Każ COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  ) | 11 |
| 2010/C 266/07 | Notifika minn qabel ta' konċentrazzjoni (Każ COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Każ li jista' jiġi kkunsidrat għal proċedura simplifikata (
  1
  ) | 12 |

V   Avviżi

PROĊEDURI GĦALL-IMPLIMENTAZZJONI TAL-POLITIKA KUMMERĊJALI KOMUNI

Il-Kummissjoni Ewropea

2010/C 266/04

Avviż dwar il-miżuri ta' antidumping fis-seħħ fir-rigward ta' importazzjonijiet ġewwa l-Unjoni ta' ċertu teraftalat tal-polietilene li joriġina, inter alia, mill-Malażja: bidla fl-isem ta’ kumpanija suġġetta għal rata individwali ta’ dazju antidumping

4

PROĊEDURI DWAR L-IMPLIMENTAZZJONI TAL-POLITIKA TAL-KOMPETIZZJONI

Il-Kummissjoni Ewropea

2010/C 266/05

Għajnuna mill-Istat – l-Awstrija – Għajnuna mill-Istat C 16/09 – Hypo Group Alpe Adria (HGAA) – Stedina biex jitressqu kummenti skont l-Artikolu 108(2) tat-TFUE (
  1
  )

1

5

2010/C 266/06

Notifika minn qabel ta' konċentrazzjoni (Każ COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  )

1

11

2010/C 266/07

Notifika minn qabel ta' konċentrazzjoni (Każ COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Każ li jista' jiġi kkunsidrat għal proċedura simplifikata (
  1
  )

1

12

| | |
| --- | --- |
| | (1)   Test b’relevanza għaż-ŻEE |

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(1)   Test b’relevanza għaż-ŻEE

1

| MT | |
| --- | --- |

MT

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II Komunikazzjonijiet

KOMUNIKAZZJONIJIET MINN ISTITUZZJONIJIET, KORPI, UFFIĊĊJI U AĠENZIJI TAL-UNJONI EWROPEA

Il-Kummissjoni Ewropea

| 1.10.2010 | MT | Il-Ġurnal Uffiċjali tal-Unjoni Ewropea | C 266/1 |
| --- | --- | --- | --- |

1.10.2010

MT

Il-Ġurnal Uffiċjali tal-Unjoni Ewropea

C 266/1

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Awtorizzazzjoni tal-għajnuna Statali fil-qafas tad-Dispożizzjonijiet tal-Artikoli 87 u 88 tat-Trattat tal-KE

Fir-rigward ta' dawn il-każijiet il-Kummissjoni ma tqajjimx oġġezzjonijiet

(Test b’relevanza għaż-ŻEE)

2010/C 266/01

| Data tal-adozzjoni tad-Deċiżjoni | 23.2.2009 |
| --- | --- |
| In-numru ta' referenza tal-għajnuna | N 727/07 |
| Stat Membru | L-Italja |
| Reġjun | Veneto |
| Titolu (u/jew isem tal-benefiċjarju) | Istituzione del «Fondo di rotazione per le agrienergie» |
| Il-bażi legali | Legge regionale 12 dicembre 2003 n. 40 «Nuove norme per gli interventi in agricoltura» articolo 58 ter |
| It-tip tal-miżura | Skema ta' għajnuna |
| L-għan | Il-ħarsien tal-ambjent |
| Il-forma tal-għajnuna | Sussidju fuq l-imgħax |
| L-estimi | Baġit globali: EUR 30 miljun |
| L-intensità | 80 % |
| It-tul ta' żmien | sal-31.12.2010 |
| Setturi ekonomiċi | Il-provvista ta' dawl, gass u ilma |
| Isem u indirizz tal-awtorità responsabbli mill-għajnuna | Giunta Regionale Regione Veneto |
| Palazzo Balbi |
| 3013 Venezia VE |
| ITALIA |

Data tal-adozzjoni tad-Deċiżjoni

23.2.2009

In-numru ta' referenza tal-għajnuna

N 727/07

Stat Membru

L-Italja

Reġjun

Veneto

Titolu (u/jew isem tal-benefiċjarju)

Istituzione del «Fondo di rotazione per le agrienergie»

Il-bażi legali

Legge regionale 12 dicembre 2003 n. 40 «Nuove norme per gli interventi in agricoltura» articolo 58 ter

It-tip tal-miżura

Skema ta' għajnuna

L-għan

Il-ħarsien tal-ambjent

Il-forma tal-għajnuna

Sussidju fuq l-imgħax

L-estimi

Baġit globali: EUR 30 miljun

L-intensità

80 %

It-tul ta' żmien

sal-31.12.2010

Setturi ekonomiċi

Il-provvista ta' dawl, gass u ilma

Isem u indirizz tal-awtorità responsabbli mill-għajnuna

Giunta Regionale Regione Veneto

Palazzo Balbi

3013 Venezia VE

ITALIA

Aktar informazzjoni

—

It-test tad-deċiżjoni fil-lingwa jew lingwi awtentika/awtentiċi, li minnu tneħħew il-partijiet kunfidenzjali kollha, jinsab fuq is-sit:

http://ec.europa.eu/community_law/state_aids/state_aids_texts_mt.htm

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| 1.10.2010 | MT | Il-Ġurnal Uffiċjali tal-Unjoni Ewropea | C 266/2 |
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1.10.2010

MT

Il-Ġurnal Uffiċjali tal-Unjoni Ewropea

C 266/2

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Ebda oppożizzjoni għal konċentrazzjoni notifikata

(Każ COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport)

(Test b’relevanza għaż-ŻEE)

2010/C 266/02

Fit-12 ta’ Awwissu 2010, il-Kummissjoni ddeċidiet li ma topponix il-konċentrazzjoni notifikata msemmija hawn fuq u li tiddikjaraha kompatibbli mas-suq komuni. Din id-deċiżjoni hi bbażata fuq l-Artikolu 6(1)b tar-Regolament tal-Kunsill (KE) Nru 139/2004. It-test sħiħ tad-deċiżjoni hu disponibbli biss fl-Franċiż u ser isir pubbliku wara li jitneħħa kwalunkwe sigriet tan-negozju li jista’ jkun fih. Dan it-test jinstab:

| — | Fit-taqsima tal-amalgamazzjoni tal-websajt tal-Kummissjoni dwar il-Kompetizzjoni (http://ec.europa.eu/competition/mergers/cases/). Din il-websajt tipprovdi diversi faċilitajiet li jgħinu sabiex jinstabu d-deċiżjonijiet individwali ta' amalgamazzjoni, inklużi l-kumpanija, in-numru tal-każ, id-data u l-indiċi settorjali, |
| --- | --- |

—

Fit-taqsima tal-amalgamazzjoni tal-websajt tal-Kummissjoni dwar il-Kompetizzjoni (http://ec.europa.eu/competition/mergers/cases/). Din il-websajt tipprovdi diversi faċilitajiet li jgħinu sabiex jinstabu d-deċiżjonijiet individwali ta' amalgamazzjoni, inklużi l-kumpanija, in-numru tal-każ, id-data u l-indiċi settorjali,

| — | f’forma elettronika fil-websajt EUR-Lex (http://eur-lex.europa.eu/en/index.htm) fid-dokument li jġib in-numru 32010M5741. Il-EUR-Lex hu l-aċċess fuq l-internet għal-liġi Ewropea. |
| --- | --- |

—

f’forma elettronika fil-websajt EUR-Lex (http://eur-lex.europa.eu/en/index.htm) fid-dokument li jġib in-numru 32010M5741. Il-EUR-Lex hu l-aċċess fuq l-internet għal-liġi Ewropea.

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IV Informazzjoni

INFORMAZZJONI MINN ISTITUZZJONIJIET, KORPI, UFFIĊĊJI U AĠENZIJI TAL-UNJONI EWROPEA

Il-Kummissjoni Ewropea

| 1.10.2010 | MT | Il-Ġurnal Uffiċjali tal-Unjoni Ewropea | C 266/3 |
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1.10.2010

MT

Il-Ġurnal Uffiċjali tal-Unjoni Ewropea

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Rata tal-kambju tal-euro (1)

It-30 ta’ Settembru 2010

2010/C 266/03

1 euro =

| | Munita | Rata tal-kambju |
| --- | --- | --- |
| USD | Dollaru Amerikan | 1,3648 |
| JPY | Yen Ġappuniż | 113,68 |
| DKK | Krona Daniża | 7,4519 |
| GBP | Lira Sterlina | 0,85995 |
| SEK | Krona Żvediża | 9,1421 |
| CHF | Frank Żvizzeru | 1,3287 |
| ISK | Krona Iżlandiża | |
| NOK | Krona Norveġiża | 7,9680 |
| BGN | Lev Bulgaru | 1,9558 |
| CZK | Krona Ċeka | 24,600 |
| EEK | Krona Estona | 15,6466 |
| HUF | Forint Ungeriż | 275,75 |
| LTL | Litas Litwan | 3,4528 |
| LVL | Lats Latvjan | 0,7094 |
| PLN | Zloty Pollakk | 3,9847 |
| RON | Leu Rumen | 4,2718 |
| TRY | Lira Turka | 1,9806 |
| AUD | Dollaru Awstraljan | 1,4070 |
| CAD | Dollaru Kanadiż | 1,4073 |
| HKD | Dollaru ta' Hong Kong | 10,5918 |
| NZD | Dollaru tan-New Zealand | 1,8436 |
| SGD | Dollaru tas-Singapor | 1,7942 |
| KRW | Won tal-Korea t'Isfel | 1 550,65 |
| ZAR | Rand ta' l-Afrika t'Isfel | 9,5438 |
| CNY | Yuan ren-min-bi Ċiniż | 9,1321 |
| HRK | Kuna Kroata | 7,3058 |
| IDR | Rupiah Indoneżjan | 12 173,44 |
| MYR | Ringgit Malażjan | 4,2101 |
| PHP | Peso Filippin | 59,869 |
| RUB | Rouble Russu | 41,6923 |
| THB | Baht Tajlandiż | 41,442 |
| BRL | Real Brażiljan | 2,3201 |
| MXN | Peso Messikan | 17,1258 |
| INR | Rupi Indjan | 61,2470 |

Munita

Rata tal-kambju

USD

Dollaru Amerikan

1,3648

JPY

Yen Ġappuniż

113,68

DKK

Krona Daniża

7,4519

GBP

Lira Sterlina

0,85995

SEK

Krona Żvediża

9,1421

CHF

Frank Żvizzeru

1,3287

ISK

Krona Iżlandiża

NOK

Krona Norveġiża

7,9680

BGN

Lev Bulgaru

1,9558

CZK

Krona Ċeka

24,600

EEK

Krona Estona

15,6466

HUF

Forint Ungeriż

275,75

LTL

Litas Litwan

3,4528

LVL

Lats Latvjan

0,7094

PLN

Zloty Pollakk

3,9847

RON

Leu Rumen

4,2718

TRY

Lira Turka

1,9806

AUD

Dollaru Awstraljan

1,4070

CAD

Dollaru Kanadiż

1,4073

HKD

Dollaru ta' Hong Kong

10,5918

NZD

Dollaru tan-New Zealand

1,8436

SGD

Dollaru tas-Singapor

1,7942

KRW

Won tal-Korea t'Isfel

1 550,65

ZAR

Rand ta' l-Afrika t'Isfel

9,5438

CNY

Yuan ren-min-bi Ċiniż

9,1321

HRK

Kuna Kroata

7,3058

IDR

Rupiah Indoneżjan

12 173,44

MYR

Ringgit Malażjan

4,2101

PHP

Peso Filippin

59,869

RUB

Rouble Russu

41,6923

THB

Baht Tajlandiż

41,442

BRL

Real Brażiljan

2,3201

MXN

Peso Messikan

17,1258

INR

Rupi Indjan

61,2470

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(1)  Sors: rata tal-kambju ta' referenza ppubblikata mill-Bank Ċentrali Ewropew.

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V Avviżi

PROĊEDURI GĦALL-IMPLIMENTAZZJONI TAL-POLITIKA KUMMERĊJALI KOMUNI

Il-Kummissjoni Ewropea

| 1.10.2010 | MT | Il-Ġurnal Uffiċjali tal-Unjoni Ewropea | C 266/4 |
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1.10.2010

MT

Il-Ġurnal Uffiċjali tal-Unjoni Ewropea

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Avviż dwar il-miżuri ta' antidumping fis-seħħ fir-rigward ta' importazzjonijiet ġewwa l-Unjoni ta' ċertu teraftalat tal-polietilene li joriġina, inter alia, mill-Malażja: bidla fl-isem ta’ kumpanija suġġetta għal rata individwali ta’ dazju antidumping

2010/C 266/04

L-importazzjonijiet ta' ċertu teraftalat tal-polietilene li joriġina mill-Malażja huma suġġetti għal dazju antidumping definittiv, impost bir-Regolament tal-Kunsill (KE) Nru 192/2007 (1) (“Regolament (KE) Nru 192/2007”).

Hualon Corporation (M) Sdn. Bhd. (“Il-Hualon”), kumpanija li tinsab fil-Malażja li l-esportazzjonijiet tagħha lejn l-Unjoni ta' ċertu tereftalat tal-polietilene huma suġġetti għal dazju individwali antidumping ta' EUR 36,0 kull tunnellata impost bl-Artikolu 1(2) tar-Regolament (KE) Nru 192/2007, għarrfet lill-Kummissjoni li wara li kienet soġġetta għal salvataġġ fit-23 ta' Lulju 2008, l-assi u l-obbligazzjonijiet Malażjani tagħha kienu għaddew għand ir-Recron (Malaysia) Sdn. Bhd. (“Ir-Recron”), li saret is-suċċessur legali.

Il-Hualon asserixxiet li t-take over u l-bidla fl-isem ma jaffettwawx l-attivitajiet tal-kumpanija fir-rigward tal-prodott ikkonċernat u għalhekk id-dritt tar-Recron li tibbenefika mir-rata individwali tad-dazju antidumping li tapplika għall-Hualon permezz tar-Regolament (KE) Nru 192/2007.

Il-Kummissjoni studjat it-tagħrif li ġie pprovdut u meta qieset il-fatt li l-kumpanija li qed titlob li tibdel isimha għaddiet għall-pussess ta' kumpanija li qabel ma kenitx tipproduċi l-prodott ikkonċernat, ikkonkludiet li l-bidla tal-isem ma jaffettwa bl-ebda mod is-sejbiet tar-Regolament (KE) Nru 192/2007. Għaldaqstant, ir-referenza fl-Artikolu 1(2) tar-Regolament (KE) Nru 192/2007 għal:

Hualon Corp. (M) Sdn. Bhd.

għandha tkun:

Recron (Malaysia) Sdn. Bhd.

Il-kodiċi TARIC addizzjonali A186 li qabel kienet attribwita lill-Hualon Corp. (M) Sdn. Bhd. issa għandha tapplika għall-Recron (Malaysia) Sdn. Bhd.

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(1)  ĠU L 59, 27.2.2007, p. 1.

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PROĊEDURI DWAR L-IMPLIMENTAZZJONI TAL-POLITIKA TAL-KOMPETIZZJONI

Il-Kummissjoni Ewropea

| 1.10.2010 | MT | Il-Ġurnal Uffiċjali tal-Unjoni Ewropea | C 266/5 |
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1.10.2010

MT

Il-Ġurnal Uffiċjali tal-Unjoni Ewropea

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GĦAJNUNA MILL-ISTAT – L-AWSTRIJA

Għajnuna mill-Istat C 16/09 – Hypo Group Alpe Adria (HGAA)

Stedina biex jitressqu kummenti skont l-Artikolu 108(2) tat-TFUE

(Test b’relevanza għaż-ŻEE)

2010/C 266/05

Permezz tal-ittra datata t-22 ta' Ġunju 2010 riprodotta fil-lingwa awtentika fil-paġni li jsegwu dan is-sommarju, il-Kummissjoni nnotifikat lill-Awstrija bid-deċiżjoni tagħha li ttawwal l-awtorizzazzjoni għall-għajnuna temporanjament misjuba kompatibbli mas-suq intern u biex tkun estiża l-proċedura mniżżla fl-Artikolu 108(2) tat-Trattat dwar il-Funzjonament tal-Unjoni Ewropea.

Il-partijiet interessati jistgħu jressqu l-kummenti tagħhom dwar il-miżuri li dwarhom l-Kummisjoni ser testendi l-proċedura, fi żmien ġimgħatejn mid-data tal-pubblikazzjoni ta’ dan is-sommarju u tal-ittra li ssegwi, lil:

| Il-Kummissjoni Ewropea |
| --- |
| Id-Direttorat Ġenerali għall-Kompetizzjoni |
| Reġistru tal-Għajnuna mill-Istat |
| Uffiċċju: J-70, 03/219 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |
| Fax +32 22961242 |

Il-Kummissjoni Ewropea

Id-Direttorat Ġenerali għall-Kompetizzjoni

Reġistru tal-Għajnuna mill-Istat

Uffiċċju: J-70, 03/219

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

Fax +32 22961242

Dawn il-kummenti ser jiġu kkomunikati lill-Awstrija. Il-parti interessata li tressaq il-kummenti tista’ titlob bil-miktub biex l-identità tagħha tiġi ttrattata b'mod kunfidenzjali, filwaqt li tagħti r-raġunijiet għat-talba.

1.   PROĊEDURA

Bid-Deċiżjoni tat-18 ta' Diċembru 2008 fil-każ N 615/08 il-Kummissjoni Ewropea approvat għajnuna ta' emerġenza mill-Istat mill-Ġermanja lis-sid maġġoritarju tal-HGAA, BayernLB, bħala rpar mir-riskju ta' EUR 4,8 biljun u injezzjoni ta' kapital ta' EUR 10 biljun abbażi tal-Artikolu 107(3)(b) tat-TFUE għal perjodu ta' sitt xhur jew sakemm jitressaq pjan kredibbli u sostanzjat ta' ristrutturazzjoni għall-bank. Din l-għajnuna ppermettiet lill-BayernLB tinjetta EUR 700 miljun fis-susidjarju tagħha HGAA. Fl-istess xahar, l-Awstrija tat injezzjoni ta' kapital lill-HGAA li tammonta għal EUR 900 miljun skont l-iskema bankarja Awstrijaka.

Fid-29 ta’ April 2009 il-Ġermanja nnotifikat lill-Kummissjoni bi pjan ta’ ristrutturazzjoni għall-BayernLB li jinkludi l-HGAA. Fl-istess żmien l-Awstrija pprovvdiet pjan ta' vijabbiltà għall-HGAA, li huwa rikjest għal banek fundamentalment b'saħħithom skont l-iskema bankarja Awstrijaka.

Fid-deċiżjoni tagħha tat-12 ta' Mejju 2009 fil-każ N 254/09 (“id-deċiżjoni tal-ftuħ”) il-Kummissjoni qajmet dubji dwar il-kompatibbiltà tal-għajnuna mgħotija lill-BayernLB mas-suq intern, staqsiet jekk HGAA kienx fundamentalment b'saħħtu u wriet dubji rigward il-kompatibbiltà tal-għajnuna mgħotija mill-Awstrija lill-HGAA mal-Artikolu 107(3)(b) tat-TFUE.

L-Awstrija nnotifikat miżuri addizzjonali ta' għajnuna fit-18 ta' Diċembru 2009.

Fid-deċiżjoni tagħha tat-23 ta' Diċembru 2009 fil-każ C 16/09 u N 698/09 il-Kummissjoni sabet il-miżuri deskritti fil-paragrafu 2 favur l-HGAA temporanjament kompatibbli mas-suq intern abbażi tal-Artikolu 107(3)(b) tat-TFUE sakemm jitressaq pjan kredibbli ta' ristrutturazzjoni għall-bank u l-valutazzjoni tiegħu mill-Kummissjoni, iżda mhux għal iktar minn sitt xhur. Fl-istess żmien il-proċedura kif stipulata fl-Artikolu 108(2) tat-TFUE kienet estiża fir-rigward ta' dawn il-miżuri addizzjonali.

F'April 2010 l-Awstrija pprovvdiet pjan ta' ristrutturazzjoni għall-HGAA.

Fid-dawl tal-valutazzjoni li qed issir tal-pjan ta' ristrutturazzjoni u tal-għajnuna mill-Kummissjoni, l-Awstrija talbet għat-titwil tal-approvazzjoni temporanja tal-miżuri.

2.   IL-MIŻURI PPROVVDUTI LILL-HGAA

L-HGAA rċieva EUR 700 miljun mill-BayernLB u EUR 900 miljun fl-ewwel Saff tal- Partizipationskapital mir-Repubblika tal-Awstrija u garanziji għal-likwidità ta' EUR 1,35 biljun għall-ħruġ ta' bonds abbażi tal-iskema Awstrijaka ta' emerġenza għas-sostenn tal-banek.

Addizzjonalment, l-HGAA rċieva l-miżuri ta' għajnuna li ġejjin awtorizzazti temporanjament bid-deċiżjoni ta' Diċembru 2009:

| — | garanzija temporanja ta' EUR 100 miljun mill-Awstrija skont il-kundizzjonijiet għall-banek f'diffikulta taħt l-iskema Awstrijaka ta' emerġenza għas-sostenn tal-banek, |
| --- | --- |

—

garanzija temporanja ta' EUR 100 miljun mill-Awstrija skont il-kundizzjonijiet għall-banek f'diffikulta taħt l-iskema Awstrijaka ta' emerġenza għas-sostenn tal-banek,

| — | rikapitalizzazzjoni ta' EUR 200 miljun mill-Land Carithia b'dividend ta' 6 %, li ser ikun dovut għall-ewwel darba għas-sena tan-negozju 2013, |
| --- | --- |

—

rikapitalizzazzjoni ta' EUR 200 miljun mill-Land Carithia b'dividend ta' 6 %, li ser ikun dovut għall-ewwel darba għas-sena tan-negozju 2013,

| — | rikapitalizzazzjoni oħra mill-Awstrija skont il-kundizzjonijiet għall-banek f'difikulta skont l-iskema Awstrijaka ta' sostenn għall-banek għall-ammont massimu ta' EUR 350 miljun, |
| --- | --- |

—

rikapitalizzazzjoni oħra mill-Awstrija skont il-kundizzjonijiet għall-banek f'difikulta skont l-iskema Awstrijaka ta' sostenn għall-banek għall-ammont massimu ta' EUR 350 miljun,

| — | miżuri ta' likwidità li jammontaw għal madwar EUR 20 miljun pprovvduti mil-Land Carinthia fil-kuntest tar-relazzjonijiet tan-negozju eżistenti. |
| --- | --- |

—

miżuri ta' likwidità li jammontaw għal madwar EUR 20 miljun pprovvduti mil-Land Carinthia fil-kuntest tar-relazzjonijiet tan-negozju eżistenti.

3.   VALUTAZZJONI

Il-Kummissjoni fid-Deċiżjonijiet tagħha tat-12 ta' Mejju 2009 u tat-23 ta' Diċembru 2009 diġà stabbillit li l-miżuri mgħotija lill-HGAA jikkosttitwixxu għajnuna mill-Istat.

Id-dubji oriġinali dwar il-kompatibbiltà tal-miżuri ta' għajnuna li tqajjmu fiż-żewġ deċiżjonijiet preċedenti għadhom ma ttaffewx bis-sottomissjoni tal-pjan ta' ristrutturazzjoni.

Fir-rigward tar-restawr tal-vijabbiltà l-Kummissjoni għandha dubji li l-mudell tan-negozju ġenerali tal-bank huwa adattat biex tkun restawrata l-vijabbiltà.

Addizzjonalment, minħabba l-klassifikazzjoni baxxa tal-HGAA u l-kosti prospettivi għolja tal-finanzjament fid-dawl tal-iskadenza tal-garanziji mil-Land Carinthia u s-sostenn finanzjarju mis-sid preċedenti tagħha BayernLB, il-Kummissjoni tistaqsi jekk l-HGAA hux ser ikollu jorjenta mill-ġdid il-mudell tan-negozju tiegħu b'mod iktar profond, li jista partikolarment jaffetwa n-negozju tiegħu tal-finanzi pubbliċi, li huwa kkaratterizzat minn marġini baxxi.

Barra minn hekk, il-Kummissjoni tikkunsidra li l-HGAA għandhu jiffaċċja problemi sinifikanti tal-kwalità tal-assi minħabba il-kwalità baxxa, li għadha qed tiddeterjora, tal-ktieb tas-self tiegħu u tiddubita li l-problemi sottostanti rigward il-proċessi tat-teħid tad-deċiżjonijiet u l-ġestjoni tar-riskju jistgħu jkunu remedjati fil-ħin.

Addizzjonalment, il-Kummissjoni tiddubita li l-bank jkun kapaċi jirremunera l-kapital tiegħu stess kif stipulat fil-Komunikazzjoni għar-Ristrutturazzjoni li teħtieġ rendiment xieraq għall-ekwità f'konformità mal-profil tar-riskju tal-bank u jekk il-bank jistax jipprovdi remunerazzjoni adegwata meta jikkunsidra l-kundizzjonijiet normali tas-suq jew alternativament iħallas lura l-kapital ipprovdut mill-Istat matul iż-żmien.

Addizzjonalment il-Kummissjoni tistaqsi jekk il-kapital injettat fl-HGAA mill-Awstrija skont l-iskema Awstrijaka għall-banek hux remunerat b'mod xieraq minħabba li l-bank kien ikkunsidrat bħala fundamentalment sod mill-Awstrija meta saret l-injezzjoni tal-kapital f'Diċembru 2008 u bbenefika għalhekk min rati iktar baxxi. Il-Kummissjoni tfakkar li hi tefgħet dubji fuq il-valutazzjoni Awstrijaka li l-bank huwa fundamentalment sod fid-Deċiżjoni tagħha ta' Mejju 2009.

Fir-rigward ta' miżuri biex ikunu indirizzati distorsjonijiet tal-kompetizzjoni, il-Kummissjoni tfakkar id-dubji tagħha li l-miżuri proposti huma suffiċjenti biex jillimitaw adegwatament id-distorsjonijiet maħluqa mill-għajnuna. Partikolarment, il-parti l-kbira tan-negozju li l-HGAA qed jipjanna li jċedi jidher li jiffoka fuq attivitajiet li jagħmlu telf u li għalhekk huma neċessarji biex tkun restawrata l-vijabbiltà. Fi kliem ieħor, il-Kummissjoni tiddubita jekk humiex neċessarji iktar miżuri biex jindirizzaw id-distorsjonijiet tal-kompetizjoni maħluqa mill-għajnuna.

TEST TAL-ITTRA

“The Commission wishes to inform your authorities that it has further extended the procedure laid down in Article 108(2) of the Treaty on the Functioning of the European Union (TFEU) initiated on 12 May 2009 with its decision C(2009) 3811 final. The Commission also prolongs the authorisation of the aid it has temporarily found compatible with the internal market until it has concluded its examination of the restructuring plan.

1.   PROCEDURE

| (1) | By decision of 18 December 2008 the European Commission approved in case N 615/08 emergency State aid from Germany to BayernLB in form of a risk shield of EUR 4,8 billion and a capital injection of EUR 10 billion on the basis of Article 107(3)(b) TFEU for a period of six months or until the submission of a credible and substantiated restructuring plan for the bank (1). |
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(1)

By decision of 18 December 2008 the European Commission approved in case N 615/08 emergency State aid from Germany to BayernLB in form of a risk shield of EUR 4,8 billion and a capital injection of EUR 10 billion on the basis of Article 107(3)(b) TFEU for a period of six months or until the submission of a credible and substantiated restructuring plan for the bank (1).

| (2) | In the same month, BayernLB's subsidiary Hypo Group Alpe Adria (HGAA) received EUR 700 million from BayernLB following large write-downs and losses. In addition, HGAA received EUR 900 million in Tier 1 Partizipationskapital
   (2) from the Republic of Austria on the basis of the Austrian emergency bank support scheme (3). |
| --- | --- |

(2)

In the same month, BayernLB's subsidiary Hypo Group Alpe Adria (HGAA) received EUR 700 million from BayernLB following large write-downs and losses. In addition, HGAA received EUR 900 million in Tier 1 Partizipationskapital
   (2) from the Republic of Austria on the basis of the Austrian emergency bank support scheme (3).

| (3) | On 29 April 2009, Germany notified a restructuring plan for BayernLB (including HGAA) to the Commission. At the same date Austria provided a viability plan for HGAA. |
| --- | --- |

(3)

On 29 April 2009, Germany notified a restructuring plan for BayernLB (including HGAA) to the Commission. At the same date Austria provided a viability plan for HGAA.

| (4) | In its decision of 12 May 2009 in case N 254/09 (4) the Commission opened the formal investigation procedure, raising doubts about the compatibility of the restructuring aid to BayernLB with the internal market, in particular whether the restructuring plan was apt to restore the viability of BayernLB (“the opening decision”). In the same decision, the Commission questioned whether HGAA was fundamentally sound and it expressed doubts regarding the compatibility with Article 87(3)(b) of the EC Treaty, now Article 107(3)(b) TFEU, of the aid granted to HGAA by Austria. |
| --- | --- |

(4)

In its decision of 12 May 2009 in case N 254/09 (4) the Commission opened the formal investigation procedure, raising doubts about the compatibility of the restructuring aid to BayernLB with the internal market, in particular whether the restructuring plan was apt to restore the viability of BayernLB (“the opening decision”). In the same decision, the Commission questioned whether HGAA was fundamentally sound and it expressed doubts regarding the compatibility with Article 87(3)(b) of the EC Treaty, now Article 107(3)(b) TFEU, of the aid granted to HGAA by Austria.

| (5) | Austria notified additional aid measures on 18 December 2009, including a temporary asset guarantee under the Austrian scheme, a capital injection and a provision of liquidity, see below point 19. |
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(5)

Austria notified additional aid measures on 18 December 2009, including a temporary asset guarantee under the Austrian scheme, a capital injection and a provision of liquidity, see below point 19.

| (6) | In its decision of 23 December 2009 in cases C 16/09 and N 698/09 (5) (“the rescue decision”) the Commission extended the procedure in relation to the following measures in favour of HGAA which it at the same time found temporarily compatible with the internal market on the basis of Article 107(3)(b) TFEU until the submission of a credible restructuring plan and its assessment by the Commission, but at most for a period of six months: a temporary guarantee of EUR 100 million, a recapitalisation of EUR 200 million by Land Carinthia, a further recapitalisation for a maximum amount of EUR 350 million and the liquidity provided by the Land of Carinthia. The measures are described in detail in paragraph 19. |
| --- | --- |

(6)

In its decision of 23 December 2009 in cases C 16/09 and N 698/09 (5) (“the rescue decision”) the Commission extended the procedure in relation to the following measures in favour of HGAA which it at the same time found temporarily compatible with the internal market on the basis of Article 107(3)(b) TFEU until the submission of a credible restructuring plan and its assessment by the Commission, but at most for a period of six months: a temporary guarantee of EUR 100 million, a recapitalisation of EUR 200 million by Land Carinthia, a further recapitalisation for a maximum amount of EUR 350 million and the liquidity provided by the Land of Carinthia. The measures are described in detail in paragraph 19.

| (7) | In view of the ongoing assessment of the restructuring plan and aid by the Commission, by letter dated 15 June 2010 Austria asked for a prolongation of the temporary approval of the measures. |
| --- | --- |

(7)

In view of the ongoing assessment of the restructuring plan and aid by the Commission, by letter dated 15 June 2010 Austria asked for a prolongation of the temporary approval of the measures.

| (8) | Given the urgency to obtain a Commission Decision before the expiry of the authorisation of the measures, both Germany and Austria have exceptionally agreed that the authentic language for this decision should be English. |
| --- | --- |

(8)

Given the urgency to obtain a Commission Decision before the expiry of the authorisation of the measures, both Germany and Austria have exceptionally agreed that the authentic language for this decision should be English.

2.   DESCRIPTION

| (9) | For a detailed description of the beneficiary and the aid measures, reference is made to the opening decision and the rescue decision. |
| --- | --- |

(9)

For a detailed description of the beneficiary and the aid measures, reference is made to the opening decision and the rescue decision.

2.1.   The beneficiary

| (10) | HGAA is the sixth largest Austrian bank with a balance sheet of EUR 41 billion as of 31 December 2009, corresponding to roughly 15 % of Austrian GDP. |
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(10)

HGAA is the sixth largest Austrian bank with a balance sheet of EUR 41 billion as of 31 December 2009, corresponding to roughly 15 % of Austrian GDP.

| (11) | HGAA is fully owned by the Austrian State after the nationalisation of 23 December 2009. |
| --- | --- |

(11)

HGAA is fully owned by the Austrian State after the nationalisation of 23 December 2009.

| (12) | HGAA is active in 12 countries (Austria, Italy, Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Germany, Liechtenstein (in liquidation), Hungary, Bulgaria, the Former Yugoslav Republic of Macedonia and Ukraine). The business in Liechtenstein is in liquidation. The bank is active in both banking and leasing, but does not pursue both activities in all the countries mentioned above. |
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(12)

HGAA is active in 12 countries (Austria, Italy, Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Germany, Liechtenstein (in liquidation), Hungary, Bulgaria, the Former Yugoslav Republic of Macedonia and Ukraine). The business in Liechtenstein is in liquidation. The bank is active in both banking and leasing, but does not pursue both activities in all the countries mentioned above.

| (13) | HGAA had pursued an aggressive growth strategy, in particular aimed at taking advantage of the rapidly growing markets in South-Eastern Europe. In the past decade, HGAA entered Bosnia-Herzegovina, Serbia, Montenegro, Bulgaria, the Former Yugoslav Republic of Macedonia and Ukraine. In addition to those markets, the group also entered Hungary and Germany during that period. |
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(13)

HGAA had pursued an aggressive growth strategy, in particular aimed at taking advantage of the rapidly growing markets in South-Eastern Europe. In the past decade, HGAA entered Bosnia-Herzegovina, Serbia, Montenegro, Bulgaria, the Former Yugoslav Republic of Macedonia and Ukraine. In addition to those markets, the group also entered Hungary and Germany during that period.

| (14) | The bank has a substantial market shares in some of the South-Eastern European countries in which it is active: its market share in banking amounts to [> 10 %] (6) in Montenegro and [> 8 %] in Croatia, and its market share in leasing amounts to over [> 15 %] in Croatia and Slovenia, [> 20 %] in FYRoM and [> 30 %] in Montenegro. The expansion strategy of the bank was facilitated by the liability guarantees of the Land (federal State) Carinthia amounting to about EUR 19 billion at the end of 2009, which has enabled the bank to borrow money at favourable conditions (7). |
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(14)

The bank has a substantial market shares in some of the South-Eastern European countries in which it is active: its market share in banking amounts to [> 10 %] (6) in Montenegro and [> 8 %] in Croatia, and its market share in leasing amounts to over [> 15 %] in Croatia and Slovenia, [> 20 %] in FYRoM and [> 30 %] in Montenegro. The expansion strategy of the bank was facilitated by the liability guarantees of the Land (federal State) Carinthia amounting to about EUR 19 billion at the end of 2009, which has enabled the bank to borrow money at favourable conditions (7).

| (15) | Following the prospect of large losses and write-downs, Austria acquired from each of the previous owners all shares by contract for the symbolic price of one Euro per owner in December 2009. |
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(15)

Following the prospect of large losses and write-downs, Austria acquired from each of the previous owners all shares by contract for the symbolic price of one Euro per owner in December 2009.

| (16) | HGAA has a rating below investment grade from Moody's (Baa2/P2/E) with a negative outlook. |
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(16)

HGAA has a rating below investment grade from Moody's (Baa2/P2/E) with a negative outlook.

2.2.   The measures

| (17) | In December 2008, HGAA received EUR 700 million from its majority owner at the time, BayernLB, which itself had received State aid in the same month from the Free State of Bavaria. |
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(17)

In December 2008, HGAA received EUR 700 million from its majority owner at the time, BayernLB, which itself had received State aid in the same month from the Free State of Bavaria.

| (18) | HGAA received EUR 900 million in Tier 1 Partizipationskapital from the Republic of Austria and liquidity guarantees of EUR 1,35 billion for bond issues on the basis of the Austrian emergency bank support scheme. |
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(18)

HGAA received EUR 900 million in Tier 1 Partizipationskapital from the Republic of Austria and liquidity guarantees of EUR 1,35 billion for bond issues on the basis of the Austrian emergency bank support scheme.

| (19) | In addition, HGAA received the following aid measures temporarily authorised by the Commission's December 2009 decision:






  — | a temporary guarantee of EUR 100 million by Austria under the conditions for distressed banks under the Austrian emergency bank support scheme, |
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(19)

In addition, HGAA received the following aid measures temporarily authorised by the Commission's December 2009 decision:

—

a temporary guarantee of EUR 100 million by Austria under the conditions for distressed banks under the Austrian emergency bank support scheme,

| — | a recapitalisation of EUR 200 million by the Land Carinthia with a dividend of 6 %, which will be due for the first time for the business year 2013, |
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—

a recapitalisation of EUR 200 million by the Land Carinthia with a dividend of 6 %, which will be due for the first time for the business year 2013,

| — | a further recapitalisation by Austria under the conditions for distressed banks under the Austrian emergency bank support scheme for a maximum amount of EUR 350 million, |
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—

a further recapitalisation by Austria under the conditions for distressed banks under the Austrian emergency bank support scheme for a maximum amount of EUR 350 million,

| — | liquidity measures amounting to approximately EUR 200 million provided by the Land Carinthia in the context of existing business relationships. |
| --- | --- |

—

liquidity measures amounting to approximately EUR 200 million provided by the Land Carinthia in the context of existing business relationships.

3.   THE RESTRUCTURING PLAN

| (20) | According to the submitted restructuring plan the problems of HGAA are largely due to its aggressive growth strategy pursued in recent years which in particular aimed at taking advantage of the rapidly growing markets in South-Eastern Europe. The economic conditions of these countries have deteriorated significantly as a prolonged period of strong economic growth has given way to significant declines of real and nominal GDP. Moreover, losses and in particular the increasingly large share of non-performing loans were to a significant extent caused by a lack of [...] proper control mechanisms [...]. |
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(20)

According to the submitted restructuring plan the problems of HGAA are largely due to its aggressive growth strategy pursued in recent years which in particular aimed at taking advantage of the rapidly growing markets in South-Eastern Europe. The economic conditions of these countries have deteriorated significantly as a prolonged period of strong economic growth has given way to significant declines of real and nominal GDP. Moreover, losses and in particular the increasingly large share of non-performing loans were to a significant extent caused by a lack of [...] proper control mechanisms [...].

| (21) | The submitted restructuring plan states that HGAA will continue doing business in Austria, with a strong focus on Carinthia, where it intends to pursue business in the areas of retail clients, SMEs and selective corporate and public finance. The bank envisages maintaining both banking and leasing activities in [most countries of the former Federal Republic of Yugoslavia]. However, it intends to terminate its leasing activities in [...]. Leasing and banking activities will be ended in [...]. In Austria, the bank also plans to discontinue its cross-border financing business and the financing of big ticket projects. HGAA moreover plans to cease its risky project finance activities and tourism projects as well as large tourism-based financing activities. Leasing activities will focus on small vehicle and other mobile assets. The new business for real estate is planned to focus on selective opportunities only. |
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(21)

The submitted restructuring plan states that HGAA will continue doing business in Austria, with a strong focus on Carinthia, where it intends to pursue business in the areas of retail clients, SMEs and selective corporate and public finance. The bank envisages maintaining both banking and leasing activities in [most countries of the former Federal Republic of Yugoslavia]. However, it intends to terminate its leasing activities in [...]. Leasing and banking activities will be ended in [...]. In Austria, the bank also plans to discontinue its cross-border financing business and the financing of big ticket projects. HGAA moreover plans to cease its risky project finance activities and tourism projects as well as large tourism-based financing activities. Leasing activities will focus on small vehicle and other mobile assets. The new business for real estate is planned to focus on selective opportunities only.

| (22) | The overall aim of the restructuring plan is to focus on small/retail business with less risk than before, which, according to the bank, will enable it to rely on historically grown competences, in which the bank has made profits in the past, including during the financial crisis. The plan provides for a balance sheet reduction amounting to [> 35] % by the end of the restructuring period and a reduction of the risk weighted assets by [> 50] % compared to the 2008 balance sheet. The reduction is achieved mainly through putting some banks and leasing activities in a run off mode or divesting them as explained in paragraph 20. |
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(22)

The overall aim of the restructuring plan is to focus on small/retail business with less risk than before, which, according to the bank, will enable it to rely on historically grown competences, in which the bank has made profits in the past, including during the financial crisis. The plan provides for a balance sheet reduction amounting to [> 35] % by the end of the restructuring period and a reduction of the risk weighted assets by [> 50] % compared to the 2008 balance sheet. The reduction is achieved mainly through putting some banks and leasing activities in a run off mode or divesting them as explained in paragraph 20.

| (23) | The bank also plans to overhaul many of its procedures as regards credit and leasing decisions as well as its overall risk management framework. It intends to start an annual risk review, to assess the risks inherent to any new product it launches and has already started to apply a reworked method of calculating its risk absorption quality on a group level since June 2009. As a result of this process, HGAA claims having already identified its major risk types. |
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(23)

The bank also plans to overhaul many of its procedures as regards credit and leasing decisions as well as its overall risk management framework. It intends to start an annual risk review, to assess the risks inherent to any new product it launches and has already started to apply a reworked method of calculating its risk absorption quality on a group level since June 2009. As a result of this process, HGAA claims having already identified its major risk types.

| (24) | According to the plan the economic problems of HGAA were significantly influenced by the current financial crisis which affected markets in South-Eastern Europe particularly strongly. HGAA admits in that respect that quality of its assets has deteriorated significantly, with only [< 40] % of its gross exposure having an internal investment grade rating and with the share of problem loans (8) when compared to gross exposure increasing steadily since the beginning of 2008, reaching almost [> 15] % of the bank's gross exposure. In 2009, the amount of risk provisions of HGAA reached almost [> 150] % of the bank's net interest revenues of that year. It has to be noted that the leasing activities were to a significant degree responsible for the encountered asset problems. |
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(24)

According to the plan the economic problems of HGAA were significantly influenced by the current financial crisis which affected markets in South-Eastern Europe particularly strongly. HGAA admits in that respect that quality of its assets has deteriorated significantly, with only [< 40] % of its gross exposure having an internal investment grade rating and with the share of problem loans (8) when compared to gross exposure increasing steadily since the beginning of 2008, reaching almost [> 15] % of the bank's gross exposure. In 2009, the amount of risk provisions of HGAA reached almost [> 150] % of the bank's net interest revenues of that year. It has to be noted that the leasing activities were to a significant degree responsible for the encountered asset problems.

| (25) | The plan is based on the assumption of a significant turnaround in the markets in which the bank is active, forecasting a return to robust rates of growth in the South-Eastern European countries. |
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(25)

The plan is based on the assumption of a significant turnaround in the markets in which the bank is active, forecasting a return to robust rates of growth in the South-Eastern European countries.

4.   ASSESSMENT OF THE AID

4.1.   Existence of aid

| (26) | As stated in Article 107(1) TFEU, any aid granted by a Member State or through State resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods shall, in so far as it affects trade between Member States, be incompatible with the internal market, save as otherwise provided in the Treaty. |
| --- | --- |

(26)

As stated in Article 107(1) TFEU, any aid granted by a Member State or through State resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods shall, in so far as it affects trade between Member States, be incompatible with the internal market, save as otherwise provided in the Treaty.

| (27) | The Commission recalls that is has already established that the measures granted to HGAA constitute State aid with its Decisions of 12 May 2009 and 23 December 2009. |
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(27)

The Commission recalls that is has already established that the measures granted to HGAA constitute State aid with its Decisions of 12 May 2009 and 23 December 2009.

4.2.   Compatibility of the Aid

| (28) | The Commission must assess the continuation of all emergency aid measures as restructuring aid, on the basis of the submitted restructuring plan and against the conditions of the Restructuring Communication (9). |
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(28)

The Commission must assess the continuation of all emergency aid measures as restructuring aid, on the basis of the submitted restructuring plan and against the conditions of the Restructuring Communication (9).

| (29) | A restructuring plan needs to ensure that the bank is able to restore long-term viability without continued State aid. The restructuring plan also needs to provide for adequate burden sharing, and limit the aid to the minimum necessary. Finally, proportionate measures need to be taken to limit the distortions of competition caused by the aid. |
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(29)

A restructuring plan needs to ensure that the bank is able to restore long-term viability without continued State aid. The restructuring plan also needs to provide for adequate burden sharing, and limit the aid to the minimum necessary. Finally, proportionate measures need to be taken to limit the distortions of competition caused by the aid.

| (30) | The original doubts expressed in decision of 23 December 2009 have not yet been allayed by the submission of the restructuring plan described above. Therefore the Commission continues to have doubts as regards the compatibility of the aid. |
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(30)

The original doubts expressed in decision of 23 December 2009 have not yet been allayed by the submission of the restructuring plan described above. Therefore the Commission continues to have doubts as regards the compatibility of the aid.

| (31) | As regards the restoration of viability the Commission firstly has doubts as regards the overall business model of the bank, i.e. whether the presented plan of maintaining some parts of the business in South-Eastern Europe (while divesting or winding down others) combined with the Austrian activities will enable the bank to create sufficient profits to ensure long-term viability. |
| --- | --- |

(31)

As regards the restoration of viability the Commission firstly has doubts as regards the overall business model of the bank, i.e. whether the presented plan of maintaining some parts of the business in South-Eastern Europe (while divesting or winding down others) combined with the Austrian activities will enable the bank to create sufficient profits to ensure long-term viability.

| (32) | Importantly, the plan does not show in a satisfactory manner that HGAA will indeed, as claimed, concentrate on activities where it has also made profits in the past, including during the financial crisis. |
| --- | --- |

(32)

Importantly, the plan does not show in a satisfactory manner that HGAA will indeed, as claimed, concentrate on activities where it has also made profits in the past, including during the financial crisis.

| (33) | The Commission furthermore questions whether the largely unregulated leasing activities would not need to be scaled down further, given that they seem to have been one of the main sources of HGAA's problems in the past. |
| --- | --- |

(33)

The Commission furthermore questions whether the largely unregulated leasing activities would not need to be scaled down further, given that they seem to have been one of the main sources of HGAA's problems in the past.

| (34) | In addition, given HGAA's low rating and prospective high funding costs in light of the expiration of the guarantees from the Land Carinthia and funding support from its former owner BayernLB, the Commission questions whether HGAA will not have to reorient its business model more profoundly, which might in particular affect its public finance business, which is characterised by relatively low margins. |
| --- | --- |

(34)

In addition, given HGAA's low rating and prospective high funding costs in light of the expiration of the guarantees from the Land Carinthia and funding support from its former owner BayernLB, the Commission questions whether HGAA will not have to reorient its business model more profoundly, which might in particular affect its public finance business, which is characterised by relatively low margins.

| (35) | Furthermore, the Commission considers that HGAA has to cope with significant problems given the low and still deteriorating quality of its asset portfolio. In that regard it can be considered as a difficult task to overhaul many of the basic decision-making processes and its overall risk management processes. The Commission doubts whether such a large task can be implemented timely, given the complexity of HGAA in many countries while avoiding further problem exposures. The Commission also considers that a significant part of the problems encountered by HGAA were not mainly the result of the deterioration of the economic situation in South-Eastern Europe but rather of deep-rooted management problems. |
| --- | --- |

(35)

Furthermore, the Commission considers that HGAA has to cope with significant problems given the low and still deteriorating quality of its asset portfolio. In that regard it can be considered as a difficult task to overhaul many of the basic decision-making processes and its overall risk management processes. The Commission doubts whether such a large task can be implemented timely, given the complexity of HGAA in many countries while avoiding further problem exposures. The Commission also considers that a significant part of the problems encountered by HGAA were not mainly the result of the deterioration of the economic situation in South-Eastern Europe but rather of deep-rooted management problems.

| (36) | The Commission recalls that it noted in the rescue decision of 23 December 2009 that the external report commissioned by HGAA and BayernLB has found serious problems in the credit monitoring procedures of HGAA as well as in its collateral valuation. As a result the previously projected potential losses could well increase still further, in particular if the benign view concerning loss-given-default ratios were not to materialise. Moreover, the Commission doubts that the scenarios applied by the external consultants at that time were sufficiently prudent in relation to “a protracted global recession” as specified in point 13 of the Restructuring Communication. Therefore, the Commission continues to have these doubts in relation to the return to long-term viability of the rescued HGAA. |
| --- | --- |

(36)

The Commission recalls that it noted in the rescue decision of 23 December 2009 that the external report commissioned by HGAA and BayernLB has found serious problems in the credit monitoring procedures of HGAA as well as in its collateral valuation. As a result the previously projected potential losses could well increase still further, in particular if the benign view concerning loss-given-default ratios were not to materialise. Moreover, the Commission doubts that the scenarios applied by the external consultants at that time were sufficiently prudent in relation to “a protracted global recession” as specified in point 13 of the Restructuring Communication. Therefore, the Commission continues to have these doubts in relation to the return to long-term viability of the rescued HGAA.

| (37) | In addition to these previously expressed doubts the Commission is concerned about the seemingly [...] deterioration of asset quality and considers that this could constitute a major threat to HGAA's viability, which is not addressed by the restructuring plan. |
| --- | --- |

(37)

In addition to these previously expressed doubts the Commission is concerned about the seemingly [...] deterioration of asset quality and considers that this could constitute a major threat to HGAA's viability, which is not addressed by the restructuring plan.

| (38) | Moreover, the Commission questions whether the unsatisfactory rating of HGAA can be improved sufficiently over the course of the restructuring period in order to enable the bank to raise both capital and funding on the markets, which is a crucial prerequisite for the proposed business model of the bank. The Commission notes in this respect that the expiry of the liability guarantees of the Land Carinthia entails the risk of rising long-term funding costs for the bank. Furthermore, the Commission has to examine whether the submitted underlying economic assumptions included in the plan are prudent enough. |
| --- | --- |

(38)

Moreover, the Commission questions whether the unsatisfactory rating of HGAA can be improved sufficiently over the course of the restructuring period in order to enable the bank to raise both capital and funding on the markets, which is a crucial prerequisite for the proposed business model of the bank. The Commission notes in this respect that the expiry of the liability guarantees of the Land Carinthia entails the risk of rising long-term funding costs for the bank. Furthermore, the Commission has to examine whether the submitted underlying economic assumptions included in the plan are prudent enough.

| (39) | In addition, the Commission doubts that the bank would be able to remunerate its own capital as required under points 13 and 14 of the Restructuring Communication which requires an appropriate return given the risk profile of the bank and a remuneration at normal market conditions or the repayment of capital over time. |
| --- | --- |

(39)

In addition, the Commission doubts that the bank would be able to remunerate its own capital as required under points 13 and 14 of the Restructuring Communication which requires an appropriate return given the risk profile of the bank and a remuneration at normal market conditions or the repayment of capital over time.

| (40) | As regards burden sharing, the Commission recalls its doubts as to whether the burden sharing of the owners (in particular BayernLB, Land Carinthia, GRAWE) has been appropriate. |
| --- | --- |

(40)

As regards burden sharing, the Commission recalls its doubts as to whether the burden sharing of the owners (in particular BayernLB, Land Carinthia, GRAWE) has been appropriate.

| (41) | In addition, the Commission questions whether the injected capital into HGAA by Austria under the Austrian bank scheme is appropriately remunerated as the bank had been considered as fundamentally sound by Austria and benefitted therefore from cheaper remuneration rates. The Commission recalls that it has questioned that assessment at the time Austria submitted its viability report for the bank and in the opening decision. |
| --- | --- |

(41)

In addition, the Commission questions whether the injected capital into HGAA by Austria under the Austrian bank scheme is appropriately remunerated as the bank had been considered as fundamentally sound by Austria and benefitted therefore from cheaper remuneration rates. The Commission recalls that it has questioned that assessment at the time Austria submitted its viability report for the bank and in the opening decision.

| (42) | As regards measures for addressing competition distortions, the Commission recalls its doubts that the proposed measures are sufficient to adequately limit the distortions created by the aid. In particular, most of business HGAA plans to divest seems to concern loss-making activities and be necessary for restoring viability. In other words, the Commission doubts whether not more measures are needed to address the distortions of competition caused by the aid. |
| --- | --- |

(42)

As regards measures for addressing competition distortions, the Commission recalls its doubts that the proposed measures are sufficient to adequately limit the distortions created by the aid. In particular, most of business HGAA plans to divest seems to concern loss-making activities and be necessary for restoring viability. In other words, the Commission doubts whether not more measures are needed to address the distortions of competition caused by the aid.

5.   CONCLUSION

| (43) | All measures in favour of HGAA constitute State aid. The Commission still doubts the compatibility of the aid measures as regards the restoration of long-term viability, burden sharing and measures to limit distortions of competition. |
| --- | --- |

(43)

All measures in favour of HGAA constitute State aid. The Commission still doubts the compatibility of the aid measures as regards the restoration of long-term viability, burden sharing and measures to limit distortions of competition.

| (44) | In light of the doubts regarding the compatibility of the aid with the Restructuring Communication, in particular the failure of the current revised restructuring plan to demonstrate the restoration of viability, proper burden sharing and a sufficient degree of mitigation of competition distortions, the Commission needs to further investigate the measures and thus to extend the formal investigation procedure pursuant to Article 108(2) TFEU. |
| --- | --- |

(44)

In light of the doubts regarding the compatibility of the aid with the Restructuring Communication, in particular the failure of the current revised restructuring plan to demonstrate the restoration of viability, proper burden sharing and a sufficient degree of mitigation of competition distortions, the Commission needs to further investigate the measures and thus to extend the formal investigation procedure pursuant to Article 108(2) TFEU.

| (45) | However, the Commission has established that it can authorise emergency measures temporarily if needed for reasons of financial stability (10), when it cannot take a final decision due to doubts on compatibility of the measures as restructuring aid. In light of the ongoing fragile situation of the financial markets the Commission bases its assessment on Article 107(3)(b) TFEU as the breakdown of a systematically relevant bank can directly affect the financial markets and indirectly the entire economy of a Member State. |
| --- | --- |

(45)

However, the Commission has established that it can authorise emergency measures temporarily if needed for reasons of financial stability (10), when it cannot take a final decision due to doubts on compatibility of the measures as restructuring aid. In light of the ongoing fragile situation of the financial markets the Commission bases its assessment on Article 107(3)(b) TFEU as the breakdown of a systematically relevant bank can directly affect the financial markets and indirectly the entire economy of a Member State.

| (46) | The Austrian Central Bank has confirmed that HGAA is a bank with systemic relevance for the financial market in Austria but also in certain countries in South Eastern Europe. Therefore the Commission prolongs the authorisation of the aid it has temporarily found compatible with the internal market until it has concluded its examination of the restructuring plan. |
| --- | --- |

(46)

The Austrian Central Bank has confirmed that HGAA is a bank with systemic relevance for the financial market in Austria but also in certain countries in South Eastern Europe. Therefore the Commission prolongs the authorisation of the aid it has temporarily found compatible with the internal market until it has concluded its examination of the restructuring plan.

6.   DECISION

In view of the above, the Commission has decided:

| — | to further extend the procedure as laid down in Article 108(2) TFEU initiated with its decision C(2009) 3811 final of 12 May 2009 and extended with its decision C(2009) 10672 final of 23 December 2009, and |
| --- | --- |

—

to further extend the procedure as laid down in Article 108(2) TFEU initiated with its decision C(2009) 3811 final of 12 May 2009 and extended with its decision C(2009) 10672 final of 23 December 2009, and

| — | to prolong the authorisation of the aid it has temporarily found compatible with the internal market by Decision C(2009) 10672 final until it has concluded the examination of the restructuring plan for Hypo Group Alpe Adria. |
| --- | --- |

—

to prolong the authorisation of the aid it has temporarily found compatible with the internal market by Decision C(2009) 10672 final until it has concluded the examination of the restructuring plan for Hypo Group Alpe Adria.

The Commission requests Austria to provide all information necessary for the Commission to assess the compatibility of the aid measures. Austria is requested to forward a copy of this letter to HGAA immediately.

The Commission warns Austria that it will inform interested parties by publishing this letter and a meaningful summary of it in the Official Journal of the European Union. It will also inform interested parties in the EFTA countries which are signatories to the EEA Agreement, by publishing a notice in the EEA Supplement to the Official Journal of the European Union, and will inform the EFTA Surveillance Authority by sending a copy of this letter. All such interested parties will be invited to submit their comments within one month of the date of such publication.”

---

(1)  Commission Decision of 18 December 2008 in case N 615/08 BayernLB, OJ C 80/4 of 3 April 2009.

1

BayernLB

(2)  Partizipationskapital has no voting rights.

2

Partizipationskapital

(3)  Commission Decision of 9 December 2008 in case N 557/08, OJ C 3, 8.1.2009, p. 2, Maßnahmen nach dem Finanzmarktstabilitäts- und dem Interbankmarktstärkungsgesetz für Kreditinstitute und Versicherungsunternehmen in Österreich, last prolonged by Commission Decision of 16 December 2009 in case N 663/09.

3

(4)  OJ C 134, 13.6.2009, p. 31.

4

(5)  OJ C 85, 31.3.2010, p. 21.

5

(6)  Confidential information.

6

(7)  This stems from the previously prevailing State guarantees for new debt (“Ausfallshaftung”) from the Land Carinthia which was abolished with a transitional period and a grandfathering clause in 2003.

7

(8)  Defined as a high likelihood that the borrower cannot repay the loan, or if the payments are more then 90 days overdue. Taking into account the lower payment morale in some of the markets where HGAA operates, the bank has replaced the 90 days criterion with a 180 days criterion in some countries.

8

(9)  Commission Communication on the return to viability and the assessment of restructuring measures in the financial sector in the current crisis under the State aid rules (OJ C 195, 19.8.2009, p. 9).

9

(10)  Commission Decision of 13 November in case C 15/08, Hypo RealEstate, not yet published, and Commission Decision of 31 March 2009 in case C 10/09 ING (OJ C 158, 11.7.2009, p. 13).

10

Hypo RealEstate

ING

---

| 1.10.2010 | MT | Il-Ġurnal Uffiċjali tal-Unjoni Ewropea | C 266/11 |
| --- | --- | --- | --- |

1.10.2010

MT

Il-Ġurnal Uffiċjali tal-Unjoni Ewropea

C 266/11

---

Notifika minn qabel ta' konċentrazzjoni

(Każ COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45)

(Test b’relevanza għaż-ŻEE)

2010/C 266/06

| 1. | Fit-23 ta’ Settembru 2010, il-Kummissjoni rċeviet notifika għal konċentrazzjoni proposta skont l-Artikolu 4 tar-Regolament tal-Kunsill (KE) Nru 139/2004 (1) li permezz tagħha l-impriżi Finavias S.à r.l (“Finavias”, il-Lussemburgu), ikkontrollata minn AXA Investment Managers Private Equity SA (“AXA Private Equity”, Franza), li hi stess tappartjeni lill-grupp AXA (“AXA”, Franza), u Iberpistas, ikkontrollata minn Abertis Infraestructuras, SA (“Abertis”, Spanja), jakkwistaw, skont it-tifsira tal-Artikolu 3(1)(b) tar-Regolament dwar l-Għaqdiet, il-kontroll konġunt tal-impriża Autopista Trados M-45 (“Trados M-45”, Spanja), permezz ta' xiri tal-ishma. |
| --- | --- |

1.

Fit-23 ta’ Settembru 2010, il-Kummissjoni rċeviet notifika għal konċentrazzjoni proposta skont l-Artikolu 4 tar-Regolament tal-Kunsill (KE) Nru 139/2004 (1) li permezz tagħha l-impriżi Finavias S.à r.l (“Finavias”, il-Lussemburgu), ikkontrollata minn AXA Investment Managers Private Equity SA (“AXA Private Equity”, Franza), li hi stess tappartjeni lill-grupp AXA (“AXA”, Franza), u Iberpistas, ikkontrollata minn Abertis Infraestructuras, SA (“Abertis”, Spanja), jakkwistaw, skont it-tifsira tal-Artikolu 3(1)(b) tar-Regolament dwar l-Għaqdiet, il-kontroll konġunt tal-impriża Autopista Trados M-45 (“Trados M-45”, Spanja), permezz ta' xiri tal-ishma.

| 2. | L-attivitajiet kummerċjali tal-impriżi kkonċernati huma:






  — | għal Finavias: ekwità privata u attivitajiet ta' ġestjoni tal-assi, |
| --- | --- | --- |

2.

L-attivitajiet kummerċjali tal-impriżi kkonċernati huma:

—

għal Finavias: ekwità privata u attivitajiet ta' ġestjoni tal-assi,

| — | għal AXA Private Equity: ġestjoni tal-assi li tinvesti f'kumpaniji mhux elenkati jew fondi tal-investiment. Hi tappartjeni lil AXA, grupp internazzjonali attiv fil-provvista ta’ assigurazzjoni tal-ħajja u dwar affarijiet oħra u servizzi finanzjarji relatati, |
| --- | --- |

—

għal AXA Private Equity: ġestjoni tal-assi li tinvesti f'kumpaniji mhux elenkati jew fondi tal-investiment. Hi tappartjeni lil AXA, grupp internazzjonali attiv fil-provvista ta’ assigurazzjoni tal-ħajja u dwar affarijiet oħra u servizzi finanzjarji relatati,

| — | għal Abertis: infrastrutturi ta' mobilità u telekomunikazzjoni f''żoni ta' negozju delikat – toroq li trid tħallas biex tgħaddi minnhom, infrastrutturi ta' telekomunikazzjoni, ajruporti, żoni ta’ parkeġġ tal-karozzi u loġistika, |
| --- | --- |

—

għal Abertis: infrastrutturi ta' mobilità u telekomunikazzjoni f''żoni ta' negozju delikat – toroq li trid tħallas biex tgħaddi minnhom, infrastrutturi ta' telekomunikazzjoni, ajruporti, żoni ta’ parkeġġ tal-karozzi u loġistika,

| — | għal Trados M-45: ġestjoni ta' konċessjonijiet tat-triq. |
| --- | --- |

—

għal Trados M-45: ġestjoni ta' konċessjonijiet tat-triq.

| 3. | Wara eżami preliminari, il-Kummissjoni ssib li l-operazzjoni nnotifikata tista' taqa' fl-ambitu tar-Regolament tal-KE dwar l-Għaqdiet. Madanakollu, id-deċiżjoni finali dwar dan il-punt hija riżervata. |
| --- | --- |

3.

Wara eżami preliminari, il-Kummissjoni ssib li l-operazzjoni nnotifikata tista' taqa' fl-ambitu tar-Regolament tal-KE dwar l-Għaqdiet. Madanakollu, id-deċiżjoni finali dwar dan il-punt hija riżervata.

| 4. | Il-Kummissjoni tistieden lill-partijiet terzi interessati biex jibagħtu kwalunkwe kumment li jista’ jkollhom dwar l-operazzjoni proposta lill-Kummissjoni.
  Il-kummenti jridu jaslu għand il-Kummissjoni mhux aktar tard minn għaxart ijiem wara d-data ta’ din il-pubblikazzjoni. Il-kummenti jistgħu jintbagħtu lill-Kummissjoni bil-feks (+32 22964301), jew b'emejl lil COMP-MERGER-REGISTRY@ec.europa.eu jew bil-posta, taħt in-numru ta' referenza COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45, fl-indirizz li ġej:





  Il-Kummissjoni Ewropea |
| --- | --- |
| Direttorat Ġenerali għall-Kompetizzjoni |
| Reġistru tal-Amalgamazzjonijiet |
| J-70 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

Il-Kummissjoni tistieden lill-partijiet terzi interessati biex jibagħtu kwalunkwe kumment li jista’ jkollhom dwar l-operazzjoni proposta lill-Kummissjoni.

Il-kummenti jridu jaslu għand il-Kummissjoni mhux aktar tard minn għaxart ijiem wara d-data ta’ din il-pubblikazzjoni. Il-kummenti jistgħu jintbagħtu lill-Kummissjoni bil-feks (+32 22964301), jew b'emejl lil COMP-MERGER-REGISTRY@ec.europa.eu jew bil-posta, taħt in-numru ta' referenza COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45, fl-indirizz li ġej:

Il-Kummissjoni Ewropea

Direttorat Ġenerali għall-Kompetizzjoni

Reġistru tal-Amalgamazzjonijiet

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  ĠU L 24, 29.1.2004, p. 1 (ir-“Regolament tal-KE dwar l-Għaqdiet”).

---

| 1.10.2010 | MT | Il-Ġurnal Uffiċjali tal-Unjoni Ewropea | C 266/12 |
| --- | --- | --- | --- |

1.10.2010

MT

Il-Ġurnal Uffiċjali tal-Unjoni Ewropea

C 266/12

---

Notifika minn qabel ta' konċentrazzjoni

(Każ COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV)

Każ li jista' jiġi kkunsidrat għal proċedura simplifikata

(Test b’relevanza għaż-ŻEE)

2010/C 266/07

| 1. | Fit-22 ta’ Settembru 2010, il-Kummissjoni rċeviet notifika ta' konċentrazzjoni proposta skont l-Artikolu 4 tar-Regolament tal-Kunsill (KE) Nru 139/2004 (1). Skont din in-notifika L-impriża Apotheek DocMorris N.V. (il-Pajjiżi l-Baxxi), proprjetà tal-grupp ta' kumpaniji Haniel, u l-impriża K-mail Order GmbH & Co KG (il-Ġermanja) jakkwistaw skont it-tifsira tal-Artikolu 3(1)(b) tar-Regolament dwar l-Għaqdiet, il-kontroll konġunt tal-impriża Wellsana B.V. (il-Pajjiżi l-Baxxi) permezz tax-xiri ta' ishma f'impriża stabbilita ġdida li tikkostitwixxi impriża konġunta. |
| --- | --- |

1.

Fit-22 ta’ Settembru 2010, il-Kummissjoni rċeviet notifika ta' konċentrazzjoni proposta skont l-Artikolu 4 tar-Regolament tal-Kunsill (KE) Nru 139/2004 (1). Skont din in-notifika L-impriża Apotheek DocMorris N.V. (il-Pajjiżi l-Baxxi), proprjetà tal-grupp ta' kumpaniji Haniel, u l-impriża K-mail Order GmbH & Co KG (il-Ġermanja) jakkwistaw skont it-tifsira tal-Artikolu 3(1)(b) tar-Regolament dwar l-Għaqdiet, il-kontroll konġunt tal-impriża Wellsana B.V. (il-Pajjiżi l-Baxxi) permezz tax-xiri ta' ishma f'impriża stabbilita ġdida li tikkostitwixxi impriża konġunta.

| 2. | L-attivitajiet kummerċjali tal-impriżi kkonċernati huma:






  — | Apotheek DocMorris N.V.: negozju ta' bejgħ bl-imnut ta' prodotti farmaċewtiċi minn spiżeriji, |
| --- | --- | --- |

2.

L-attivitajiet kummerċjali tal-impriżi kkonċernati huma:

—

Apotheek DocMorris N.V.: negozju ta' bejgħ bl-imnut ta' prodotti farmaċewtiċi minn spiżeriji,

| — | K-mail Order GmbH & Co KG: negozju ta' bejgħ bl-imnut ta' prodotti tal-moda, ġojjellerija, prodotti u oġġetti domestiċi, kif ukoll prodotti b'rabta mal-kura tas-saħħa. |
| --- | --- |

—

K-mail Order GmbH & Co KG: negozju ta' bejgħ bl-imnut ta' prodotti tal-moda, ġojjellerija, prodotti u oġġetti domestiċi, kif ukoll prodotti b'rabta mal-kura tas-saħħa.

| 3. | Wara eżami preliminari, il-Kummissjoni ssib li l-operazzjoni nnotifikata tista' taqa' fl-ambitu tar-Regolament tal-KE dwar l-Għaqdiet. Madankollu, id-deċiżjoni finali dwar dan il-punt hija riżervata. Skont l-Avviż tal-Kummissjoni dwar proċedura simplifikata għat-trattament ta' ċerti konċentrazzjonijiet taħt ir-Regolament tal-KE dwar l-Għaqdiet (2) ta' min jinnota li dan il-każ jista' jiġi kkunsidrat għat-trattament taħt il-proċedura stipulata fl-Avviż. |
| --- | --- |

3.

Wara eżami preliminari, il-Kummissjoni ssib li l-operazzjoni nnotifikata tista' taqa' fl-ambitu tar-Regolament tal-KE dwar l-Għaqdiet. Madankollu, id-deċiżjoni finali dwar dan il-punt hija riżervata. Skont l-Avviż tal-Kummissjoni dwar proċedura simplifikata għat-trattament ta' ċerti konċentrazzjonijiet taħt ir-Regolament tal-KE dwar l-Għaqdiet (2) ta' min jinnota li dan il-każ jista' jiġi kkunsidrat għat-trattament taħt il-proċedura stipulata fl-Avviż.

| 4. | Il-Kummissjoni tistieden lill-partijiet terzi interessati biex iressqu kwalunkwe kummenti li jistgħu jkollhom dwar it-tranżizzjoni proposta.
  Il-kummenti jridu jaslu għand il-Kummissjoni mhux aktar tard minn għaxart ijiem wara d-data ta' din il-pubblikazzjoni. Il-kummenti jistgħu jintbagħtu lill-Kummissjoni bil-feks (+32 22964301), jew b'emejl lil COMP-MERGER-REGISTRY@ec.europa.eu jew bil-posta, taħt in-numru ta' referenza COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV, fl-indirizz li ġej:





  Il-Kummissjoni Ewropea |
| --- | --- |
| Direttorat Ġenerali għall-Kompetizzjoni |
| Reġistru tal-Amalgamazzjonijiet |
| J-70 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

Il-Kummissjoni tistieden lill-partijiet terzi interessati biex iressqu kwalunkwe kummenti li jistgħu jkollhom dwar it-tranżizzjoni proposta.

Il-kummenti jridu jaslu għand il-Kummissjoni mhux aktar tard minn għaxart ijiem wara d-data ta' din il-pubblikazzjoni. Il-kummenti jistgħu jintbagħtu lill-Kummissjoni bil-feks (+32 22964301), jew b'emejl lil COMP-MERGER-REGISTRY@ec.europa.eu jew bil-posta, taħt in-numru ta' referenza COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV, fl-indirizz li ġej:

Il-Kummissjoni Ewropea

Direttorat Ġenerali għall-Kompetizzjoni

Reġistru tal-Amalgamazzjonijiet

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  ĠU L 24, 29.1.2004, p. 1 (ir-“Regolament tal-KE dwar l-Għaqdiet”).

(2)  ĠU C 56, 5.3.2005, p. 32 (“Avviż ta’ proċedura simplifikata”).

---