# Jornal Oficial C 266/2010

| | ISSN 1725-2482
  doi:10.3000/17252482.C_2010.266.por |
| --- | --- |
| Jornal Oficial
  da União Europeia | C 266 |
| | |
| Edição em língua portuguesa | Comunicações e Informações | 53.o ano1 de Outubro de 2010 |

ISSN 1725-2482

doi:10.3000/17252482.C_2010.266.por

Jornal Oficial

da União Europeia

C 266

Edição em língua portuguesa

Comunicações e Informações

53.o ano1 de Outubro de 2010

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| Número de informação | Índice | Página |
| --- | --- | --- |
| | II   Comunicações |
| | COMUNICAÇÕES ORIUNDAS DAS INSTITUIÇÕES, ÓRGÃOS E ORGANISMOS DA UNIÃO EUROPEIA |
| | Comissão Europeia |
| 2010/C 266/01 | Autorização de auxílios concedidos pelos Estados no âmbito das disposições dos artigos 87.o e 88.o do Tratado CE — A respeito dos quais a Comissão não levanta objecções (
  1
  ) | 1 |
| 2010/C 266/02 | Não oposição a uma concentração notificada (Processo COMP/M.5741 — CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  ) | 2 |

Número de informação

Índice

Página

II   Comunicações

COMUNICAÇÕES ORIUNDAS DAS INSTITUIÇÕES, ÓRGÃOS E ORGANISMOS DA UNIÃO EUROPEIA

Comissão Europeia

2010/C 266/01

Autorização de auxílios concedidos pelos Estados no âmbito das disposições dos artigos 87.o e 88.o do Tratado CE — A respeito dos quais a Comissão não levanta objecções (
  1
  )

o

o

1

1

2010/C 266/02

Não oposição a uma concentração notificada (Processo COMP/M.5741 — CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  )

1

2

| | IV   Informações |
| --- | --- |
| | INFORMAÇÕES ORIUNDAS DAS INSTITUIÇÕES, ÓRGÃOS E ORGANISMOS DA UNIÃO EUROPEIA |
| | Comissão Europeia |
| 2010/C 266/03 | Taxas de câmbio do euro | 3 |

IV   Informações

INFORMAÇÕES ORIUNDAS DAS INSTITUIÇÕES, ÓRGÃOS E ORGANISMOS DA UNIÃO EUROPEIA

Comissão Europeia

2010/C 266/03

Taxas de câmbio do euro

3

| | V   Avisos |
| --- | --- |
| | PROCEDIMENTOS RELATIVOS À EXECUÇÃO DA POLÍTICA COMERCIAL COMUM |
| | Comissão Europeia |
| 2010/C 266/04 | Aviso relativo às medidas anti-dumping em vigor sobre as importações na União de determinado poli(tereftalato de etileno) originário, designadamente, da Malásia: mudança de nome de uma empresa sujeita a uma taxa do direito individual anti-dumping | 4 |
| | PROCEDIMENTOS RELATIVOS À EXECUÇÃO DA POLÍTICA DE CONCORRÊNCIA |
| | Comissão Europeia |
| 2010/C 266/05 | Auxílios estatais — Áustria — Auxílio estatal C 16/09 — Hypo Group Alpe Adria (HGAA) — Convite à apresentação de observações nos termos do artigo 108.o, n.o 2, do TFUE (
  1
  ) | 5 |
| 2010/C 266/06 | Notificação prévia de uma concentração (Processo COMP/M.5974 — Finavias/Abertis/Autopista Trados M-45) (
  1
  ) | 11 |
| 2010/C 266/07 | Notificação prévia de uma concentração (Processo COMP/M.5994 — Apotheek Docmorris/K-Mail Order/JV) — Processo susceptível de beneficiar do procedimento simplificado (
  1
  ) | 12 |

V   Avisos

PROCEDIMENTOS RELATIVOS À EXECUÇÃO DA POLÍTICA COMERCIAL COMUM

Comissão Europeia

2010/C 266/04

Aviso relativo às medidas anti-dumping em vigor sobre as importações na União de determinado poli(tereftalato de etileno) originário, designadamente, da Malásia: mudança de nome de uma empresa sujeita a uma taxa do direito individual anti-dumping

anti-dumping

anti-dumping

4

PROCEDIMENTOS RELATIVOS À EXECUÇÃO DA POLÍTICA DE CONCORRÊNCIA

Comissão Europeia

2010/C 266/05

Auxílios estatais — Áustria — Auxílio estatal C 16/09 — Hypo Group Alpe Adria (HGAA) — Convite à apresentação de observações nos termos do artigo 108.o, n.o 2, do TFUE (
  1
  )

o

o

1

5

2010/C 266/06

Notificação prévia de uma concentração (Processo COMP/M.5974 — Finavias/Abertis/Autopista Trados M-45) (
  1
  )

1

11

2010/C 266/07

Notificação prévia de uma concentração (Processo COMP/M.5994 — Apotheek Docmorris/K-Mail Order/JV) — Processo susceptível de beneficiar do procedimento simplificado (
  1
  )

1

12

| | |
| --- | --- |
| | (1)   Texto relevante para efeitos do EEE |

---

(1)   Texto relevante para efeitos do EEE

1

| PT | |
| --- | --- |

PT

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II Comunicações

COMUNICAÇÕES ORIUNDAS DAS INSTITUIÇÕES, ÓRGÃOS E ORGANISMOS DA UNIÃO EUROPEIA

Comissão Europeia

| 1.10.2010 | PT | Jornal Oficial da União Europeia | C 266/1 |
| --- | --- | --- | --- |

1.10.2010

PT

Jornal Oficial da União Europeia

C 266/1

---

Autorização de auxílios concedidos pelos Estados no âmbito das disposições dos artigos 87.o e 88.o do Tratado CE

A respeito dos quais a Comissão não levanta objecções

(Texto relevante para efeitos do EEE)

2010/C 266/01

| Data de adopção da decisão | 23.2.2009 |
| --- | --- |
| Número de referência do auxílio estatal | N 727/07 |
| Estado-Membro | Itália |
| Região | Veneto |
| Denominação (e/ou nome do beneficiário) | Istituzione del «Fondo di rotazione per le agrienergie» |
| Base jurídica | Legge regionale 12 dicembre 2003 n. 40 «Nuove norme per gli interventi in agricoltura» articolo 58 ter |
| Tipo de auxílio | Regime de auxílios |
| Objectivo | Protecção do ambiente |
| Forma do auxílio | Bonificação de juros |
| Orçamento | Montante global do auxílio previsto: 30 milhões de EUR |
| Intensidade | 80 % |
| Duração | até 31.12.2010 |
| Sectores económicos | Distribuição de electricidade, gás e água |
| Nome e endereço da entidade que concede o auxílio | Giunta Regionale Regione Veneto |
| Palazzo Balbi |
| 3013 Venezia VE |
| ITALIA |

Data de adopção da decisão

23.2.2009

Número de referência do auxílio estatal

N 727/07

Estado-Membro

Itália

Região

Veneto

Denominação (e/ou nome do beneficiário)

Istituzione del «Fondo di rotazione per le agrienergie»

Base jurídica

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

Tipo de auxílio

Regime de auxílios

Objectivo

Protecção do ambiente

Forma do auxílio

Bonificação de juros

Orçamento

Montante global do auxílio previsto: 30 milhões de EUR

Intensidade

80 %

Duração

até 31.12.2010

Sectores económicos

Distribuição de electricidade, gás e água

Nome e endereço da entidade que concede o auxílio

Giunta Regionale Regione Veneto

Palazzo Balbi

3013 Venezia VE

ITALIA

Outras informações

—

O texto da decisão na(s) língua(s) que faz(em) fé, expurgado(s) dos respectivos dados confidenciais, está disponível no site:

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

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| 1.10.2010 | PT | Jornal Oficial da União Europeia | C 266/2 |
| --- | --- | --- | --- |

1.10.2010

PT

Jornal Oficial da União Europeia

C 266/2

---

Não oposição a uma concentração notificada

(Processo COMP/M.5741 — CDC/Veolia Environment/Transdev/Veolia Transport)

(Texto relevante para efeitos do EEE)

2010/C 266/02

Em 12 de Agosto de 2010, a Comissão decidiu não se opor à concentração notificada e declará-la compatível com o mercado comum. Esta decisão baseia-se no n.o 1, alínea b), do artigo 6.o do Regulamento (CE) n.o 139/2004 do Conselho. O texto integral da decisão apenas está disponível na língua francês e será tornado público após terem sido suprimidos quaisquer segredos comerciais que possa conter. Poderá ser consultado:

| — | no sítio web Concorrência da Comissão, na secção consagrada à política da concorrência, (http://ec.europa.eu/competition/mergers/cases/). Este sítio permite aceder às decisões respeitantes às operações de concentração a partir da denominação da empresa, do número do processo, da data e do sector de actividade, |
| --- | --- |

—

no sítio web Concorrência da Comissão, na secção consagrada à política da concorrência, (http://ec.europa.eu/competition/mergers/cases/). Este sítio permite aceder às decisões respeitantes às operações de concentração a partir da denominação da empresa, do número do processo, da data e do sector de actividade,

| — | em formato electrónico, no sítio EUR-Lex (http://eur-lex.europa.eu/en/index.htm), que proporciona o acesso em linha ao direito comunitário, através do número do documento 32010M5741. |
| --- | --- |

—

em formato electrónico, no sítio EUR-Lex (http://eur-lex.europa.eu/en/index.htm), que proporciona o acesso em linha ao direito comunitário, através do número do documento 32010M5741.

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IV Informações

INFORMAÇÕES ORIUNDAS DAS INSTITUIÇÕES, ÓRGÃOS E ORGANISMOS DA UNIÃO EUROPEIA

Comissão Europeia

| 1.10.2010 | PT | Jornal Oficial da União Europeia | C 266/3 |
| --- | --- | --- | --- |

1.10.2010

PT

Jornal Oficial da União Europeia

C 266/3

---

Taxas de câmbio do euro (1)

30 de Setembro de 2010

2010/C 266/03

1 euro =

| | Moeda | Taxas de câmbio |
| --- | --- | --- |
| USD | dólar americano | 1,3648 |
| JPY | iene | 113,68 |
| DKK | coroa dinamarquesa | 7,4519 |
| GBP | libra esterlina | 0,85995 |
| SEK | coroa sueca | 9,1421 |
| CHF | franco suíço | 1,3287 |
| ISK | coroa islandesa | |
| NOK | coroa norueguesa | 7,9680 |
| BGN | lev | 1,9558 |
| CZK | coroa checa | 24,600 |
| EEK | coroa estoniana | 15,6466 |
| HUF | forint | 275,75 |
| LTL | litas | 3,4528 |
| LVL | lats | 0,7094 |
| PLN | zloti | 3,9847 |
| RON | leu | 4,2718 |
| TRY | lira turca | 1,9806 |
| AUD | dólar australiano | 1,4070 |
| CAD | dólar canadiano | 1,4073 |
| HKD | dólar de Hong Kong | 10,5918 |
| NZD | dólar neozelandês | 1,8436 |
| SGD | dólar de Singapura | 1,7942 |
| KRW | won sul-coreano | 1 550,65 |
| ZAR | rand | 9,5438 |
| CNY | yuan-renminbi chinês | 9,1321 |
| HRK | kuna croata | 7,3058 |
| IDR | rupia indonésia | 12 173,44 |
| MYR | ringgit malaio | 4,2101 |
| PHP | peso filipino | 59,869 |
| RUB | rublo russo | 41,6923 |
| THB | baht tailandês | 41,442 |
| BRL | real brasileiro | 2,3201 |
| MXN | peso mexicano | 17,1258 |
| INR | rupia indiana | 61,2470 |

Moeda

Taxas de câmbio

USD

dólar americano

1,3648

JPY

iene

113,68

DKK

coroa dinamarquesa

7,4519

GBP

libra esterlina

0,85995

SEK

coroa sueca

9,1421

CHF

franco suíço

1,3287

ISK

coroa islandesa

NOK

coroa norueguesa

7,9680

BGN

lev

1,9558

CZK

coroa checa

24,600

EEK

coroa estoniana

15,6466

HUF

forint

275,75

LTL

litas

3,4528

LVL

lats

0,7094

PLN

zloti

3,9847

RON

leu

4,2718

TRY

lira turca

1,9806

AUD

dólar australiano

1,4070

CAD

dólar canadiano

1,4073

HKD

dólar de Hong Kong

10,5918

NZD

dólar neozelandês

1,8436

SGD

dólar de Singapura

1,7942

KRW

won sul-coreano

1 550,65

ZAR

rand

9,5438

CNY

yuan-renminbi chinês

9,1321

HRK

kuna croata

7,3058

IDR

rupia indonésia

12 173,44

MYR

ringgit malaio

4,2101

PHP

peso filipino

59,869

RUB

rublo russo

41,6923

THB

baht tailandês

41,442

BRL

real brasileiro

2,3201

MXN

peso mexicano

17,1258

INR

rupia indiana

61,2470

---

(1)  Fonte: Taxas de câmbio de referência publicadas pelo Banco Central Europeu.

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V Avisos

PROCEDIMENTOS RELATIVOS À EXECUÇÃO DA POLÍTICA COMERCIAL COMUM

Comissão Europeia

| 1.10.2010 | PT | Jornal Oficial da União Europeia | C 266/4 |
| --- | --- | --- | --- |

1.10.2010

PT

Jornal Oficial da União Europeia

C 266/4

---

Aviso relativo às medidas anti-dumping em vigor sobre as importações na União de determinado poli(tereftalato de etileno) originário, designadamente, da Malásia: mudança de nome de uma empresa sujeita a uma taxa do direito individual anti-dumping

2010/C 266/04

As importações de determinado poli(tereftalato de etileno) originário, designadamente, da Malásia estão sujeitas a um direito anti-dumping definitivo instituído pelo Regulamento (CE) n.o 192/2007 do Conselho (1) [«Regulamento (CE) n.o 192/2007»].

Hualon Corporation (M) Sdn. Bhd. («Hualon»), uma empresa localizada na Malásia, cujas exportações para a União de determinado poli(tereftalato de etileno) estão sujeitas a um direito individual anti-dumping de 36,0 EUR/tonelada instituído pelo n.o 2 do artigo 1.o, do Regulamento (CE) n.o 192/2007, informou a Comissão de que após ter sido colocada em administração judicial, em 23 de Julho de 2008 todos os seus activos e passivos na Malásia foram retomados pela Recron (Malaysia) Sdn. Bhd. («Recron»), que veio a ser o sucessor legal.

A Hualon explicou que a retoma e a alteração de nome não afectam as actividades da empresa no que se refere ao produto em causa e, por conseguinte, também não afectam o direito da Recron de beneficiar do direito individual anti-dumping aplicado à Hualon pelo Regulamento (CE) n.o 192/2007.

A Comissão analisou as informações facultadas e, considerando que a empresa que solicita a mudança de nome foi adquirida por uma empresa que não produzia o produto em causa, concluiu que essa alteração de nome não afecta o disposto no Regulamento (CE) n.o 192/2007. Por conseguinte, no n.o 2 do artigo 1.o, do Regulamento (CE) n.o 192/2007, em vez da referência a:

Hualon Corp. (M) Sdn. Bhd.

deve fazer-se referência a:

Recron (Malaysia) Sdn. Bhd.

O código adicional TARIC A186 anteriormente atribuído à Hualon Corp. (M) Sdn. Bhd. passa a aplicar-se à Recron (Malaysia) Sdn. Bhd.

---

(1)  JO L 59 de 27.2.2007, p. 1.

---

PROCEDIMENTOS RELATIVOS À EXECUÇÃO DA POLÍTICA DE CONCORRÊNCIA

Comissão Europeia

| 1.10.2010 | PT | Jornal Oficial da União Europeia | C 266/5 |
| --- | --- | --- | --- |

1.10.2010

PT

Jornal Oficial da União Europeia

C 266/5

---

AUXÍLIOS ESTATAIS — ÁUSTRIA

Auxílio estatal C 16/09 — Hypo Group Alpe Adria (HGAA)

Convite à apresentação de observações nos termos do artigo 108.o, n.o 2, do TFUE

(Texto relevante para efeitos do EEE)

2010/C 266/05

Por carta de 22 de Junho de 2010, publicada na língua que faz fé a seguir ao presente resumo, a Comissão notificou a Áustria da sua decisão de prorrogar a autorização concedida a um auxílio considerado temporariamente compatível com o mercado interno e alargar o procedimento previsto no artigo 88.o, n.o 2, do Tratado sobre o Funcionamento da União Europeia.

As partes interessadas podem apresentar as suas observações sobre as medidas em relação às quais a Comissão prorrogou o procedimento no prazo de duas semanas a contar da data de publicação do presente resumo e da carta que o acompanha, enviando-as para o seguinte endereço:

| Comissão Europeia |
| --- |
| Direcção-Geral da Concorrência |
| Registo dos Auxílios Estatais |
| Gabinete: J-70, 03/219 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |
| Fax +32 22961242 |

Comissão Europeia

Direcção-Geral da Concorrência

Registo dos Auxílios Estatais

Gabinete: J-70, 03/219

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

Fax +32 22961242

Estas observações serão comunicadas à Áustria. Qualquer interessado que apresente observações pode solicitar por escrito o tratamento confidencial da sua identidade, devendo justificar o pedido.

1.   PROCESSO

Por decisão de 18 de Dezembro de 2008, a Comissão Europeia aprovou, no âmbito do processo N 615/08, um auxílio estatal de emergência concedida pela Alemanha ao BayernLB, accionista maioritário do HGAA, sob a forma de uma garantia de 4 800 milhões de EUR e de uma injecção de capital de 10 mil milhões de EUR, com base no artigo 107.o, n.o 3, alínea b), do TFUE por um período de seis meses ou até à apresentação de um plano de reestruturação do banco credível e fundamentado. Este auxílio permitiu ao BayernLB injectar 700 milhões de EUR na sua filial HGAA. No mesmo mês, a Áustria concedeu uma injecção de capital ao HGAA no montante de 900 milhões de EUR, ao abrigo do regime austríaco de apoio de emergência ao sector bancário.

Em 29 de Abril de 2009, a Alemanha notificou à Comissão um plano de reestruturação do BayernLB que incluía o HGAA. Na mesma data a Áustria apresentou um plano de viabilização para o HGAA que, ao abrigo do regime austríaco de apoio de emergência ao sector bancário austríaco é exigido aos bancos fundamentalmente sólidos.

Na sua decisão de 12 de Maio de 2009, relativo ao processo N 254/09 («decisão de inicio»), a Comissão manifestou dúvidas quanto à compatibilidade do auxílio concedido ao BayernLB com o mercado interno, sobre a solidez financeira do HGAA e quanto à compatibilidade com o artigo 107.o, n.o 3, alínea b) do TFUE da auxílio concedido ao HGAA pela Áustria.

A Áustria notificou medidas adicionais de auxílio em 18 de Dezembro de 2009.

Na sua decisão de 23 de Dezembro de 2009 relativa aos processos C 16/09 e N 698/09, a Comissão considerou as medidas a favor do HGAA descritas no n.o 2 temporariamente compatíveis com o mercado interno com base no artigo 107.o, n.o 3, alínea b) do TFUE até à apresentação de um plano de reestruturação credível e da sua avaliação pela Comissão, mas por um período que não podia exceder seis meses. Além disso, o procedimento previsto no artigo 108.o, n.o 2, do TFUE foi prorrogado no que diz respeito a estas medidas adicionais.

Em Abril de 2010 a Áustria apresentou um plano de reestruturação do HGAA.

Em virtude da avaliação em curso pela Comissão do plano de reestruturação e do auxílio, a Áustria solicitou uma prorrogação da aprovação temporária das medidas.

2.   MEDIDAS PROPORCIONADAS AO HGAA

O HGAA recebeu 700 milhões de EUR do BayernLB e 900 milhões de EUR em fundos próprios de base (tier 1 Partizipationskapital) da República da Áustria e garantias de liquidez no montante de 1 350 milhões de EUR associados à emissão de obrigações com base no regime austríaco de apoio de emergência ao sector bancário.

Além disso, o HGAA beneficiou das seguintes medidas de auxílio autorizadas temporariamente pela decisão de Dezembro de 2009:

| — | uma garantia temporária de 100 milhões de EUR concedida pela Áustria nas condições aplicáveis aos bancos em dificuldade ao abrigo do regime austríaco de apoio de emergência ao sector bancário, |
| --- | --- |

—

uma garantia temporária de 100 milhões de EUR concedida pela Áustria nas condições aplicáveis aos bancos em dificuldade ao abrigo do regime austríaco de apoio de emergência ao sector bancário,

| — | uma recapitalização de 200 milhões de EUR fornecidoo Land Caríntia, que prevê dividendos de 6 %, pagáveis pela primeira vez no exercício de 2013, |
| --- | --- |

—

uma recapitalização de 200 milhões de EUR fornecidoo Land Caríntia, que prevê dividendos de 6 %, pagáveis pela primeira vez no exercício de 2013,

| — | uma recapitalização adicional num montante máximo de 350 milhões de EUR por parte da Áustria nas condições aplicáveis aos bancos em dificuldade ao abrigo do regime austríaco de apoio de emergência ao sector bancário, |
| --- | --- |

—

uma recapitalização adicional num montante máximo de 350 milhões de EUR por parte da Áustria nas condições aplicáveis aos bancos em dificuldade ao abrigo do regime austríaco de apoio de emergência ao sector bancário,

| — | medidas de liquidez que atingem aproximadamente 200 milhões de EUR concedidas pelo Land Caríntia no contexto das relações empresariais existentes. |
| --- | --- |

—

medidas de liquidez que atingem aproximadamente 200 milhões de EUR concedidas pelo Land Caríntia no contexto das relações empresariais existentes.

3.   APRECIAÇÃO

A Comissão já estabeleceu nas suas decisões de 12 de Maio de 2009 e 23 de Dezembro de 2009 que as medidas concedidas ao HGAA constituem um auxílio estatal.

As dúvidas quanto à compatibilidade das medidas de auxílio expressas nas duas decisões anteriores ainda não foram dissipadas pela apresentação do plano de reestruturação.

No que respeita ao restabelecimento da viabilidade, a Comissão tem dúvidas de que o modelo empresarial global do banco seja adequado para o efeito.

Além disso, considerando a baixa notação do HGAA e a previsibilidade dos custos de financiamento quando chegarem ao seu termo as garantias do Land Caríntia e o apoio financeiro do seu anterior proprietário, BayernLB, a Comissão pergunta se o HGAA não terá de reorientar mais profundamente o seu modelo empresarial, o que poderia, em especial, afectar a sua actividade no domínio do financiamento do sector público, que se caracteriza por margens reduzidas.

Por outro lado, a Comissão considera que o HGAA tem de enfrentar problemas significativos associados à qualidade dos activos, dada a fraca qualidade da sua carteira de empréstimos, que continua a deteriorar-se, e duvida que os problemas subjacentes respeitantes aos processos de tomada de decisão e de gestão dos riscos possam ser resolvidos em tempo útil.

Além disso, a Comissão duvida que o banco possa obter uma remuneração do seu capital próprio, tal como estabelecido na Comunicação sobre a reestruturação que exige uma rendibilidade adequada do capital em conformidade com o perfil de risco da instituição de crédito e se o banco pode proporcionar uma remuneração adequada em condições normais de mercado, ou, em alternativa reembolsar o capital fornecido pelo Estado num tempo oportuno.

A Comissão também tem dúvidas de que o capital injectado no HGAA pela Áustria ao abrigo do regime austríaco de apoio de emergência ao sector bancário venha a ser adequadamente remunerado, uma vez que o banco tinha sido considerado fundamentalmente sólido pela Áustria na altura da injecção de capital em Dezembro de 2008 e beneficiado, por conseguinte, de taxas mais reduzidas. A Comissão recorda que, na sua decisão de Maio de 2009, pôs em causa a avaliação pela Áustria da solidez financeira do banco.

No que respeita às medidas destinadas a evitar as distorções da concorrência, a Comissão recorda as suas dúvidas sobre se as medidas propostas são suficientes para limitar adequadamente as distorções criadas pelo auxílio. Em especial, a maioria das alienações previstas pelo HGAA parece concentrar-se em actividades deficitárias e são, por conseguinte, necessárias para restabelecer a viabilidade. Por outras palavras, a Comissão considera que talvez sejam necessárias medidas adicionais para prevenir as distorções da concorrência causadas pelo auxílio.

TEXTO DA CARTA

«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). |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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—

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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(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 | PT | Jornal Oficial da União Europeia | C 266/11 |
| --- | --- | --- | --- |

1.10.2010

PT

Jornal Oficial da União Europeia

C 266/11

---

Notificação prévia de uma concentração

(Processo COMP/M.5974 — Finavias/Abertis/Autopista Trados M-45)

(Texto relevante para efeitos do EEE)

2010/C 266/06

| 1. | A Comissão recebeu, em 23 de Setembro de 2010, uma notificação de um projecto de concentração, nos termos do artigo 4.o do Regulamento (CE) n.o 139/2004 do Conselho (1), através da qual as empresas Finavias S.à r.l («Finavias», Luxemburgo), controlada por AXA Investment Managers Private Equity SA («AXA Private Equity», França), por sua vez pertencente ao Grupo AXA («AXA», França), e Iberpistas, controlada por Abertis Infraestructuras, SA («Abertis», Espanha), adquirem, na acepção do artigo 3.o, n.o 1, alínea b), do Regulamento das concentrações comunitárias, o controlo conjunto da empresa Autopista Trados M-45 («Trados M-45», Espanha), mediante aquisição de acções. |
| --- | --- |

1.

A Comissão recebeu, em 23 de Setembro de 2010, uma notificação de um projecto de concentração, nos termos do artigo 4.o do Regulamento (CE) n.o 139/2004 do Conselho (1), através da qual as empresas Finavias S.à r.l («Finavias», Luxemburgo), controlada por AXA Investment Managers Private Equity SA («AXA Private Equity», França), por sua vez pertencente ao Grupo AXA («AXA», França), e Iberpistas, controlada por Abertis Infraestructuras, SA («Abertis», Espanha), adquirem, na acepção do artigo 3.o, n.o 1, alínea b), do Regulamento das concentrações comunitárias, o controlo conjunto da empresa Autopista Trados M-45 («Trados M-45», Espanha), mediante aquisição de acções.

| 2. | As actividades das empresas em causa são:






  — | Finavias: capitais de investimento (private equity) e gestão de activos, |
| --- | --- | --- |

2.

As actividades das empresas em causa são:

—

Finavias: capitais de investimento (private equity) e gestão de activos,

| — | AXA Private Equity: investimento em sociedades não cotadas e fundos de investimento. Trata-se de uma sociedade pertencente ao Grupo AXA, um grupo internacional, que exerce a sua actividade nos domínios dos seguros de vida e não vida e da prestação de serviços financeiros conexos, |
| --- | --- |

—

AXA Private Equity: investimento em sociedades não cotadas e fundos de investimento. Trata-se de uma sociedade pertencente ao Grupo AXA, um grupo internacional, que exerce a sua actividade nos domínios dos seguros de vida e não vida e da prestação de serviços financeiros conexos,

| — | Abertis: infra-estruturas no domínio da mobilidade e das telecomunicações, através de cinco áreas de negócios: estradas com portagem, infra-estruturas de telecomunicações, aeroportos, parques de estacionamento automóvel e logística, |
| --- | --- |

—

Abertis: infra-estruturas no domínio da mobilidade e das telecomunicações, através de cinco áreas de negócios: estradas com portagem, infra-estruturas de telecomunicações, aeroportos, parques de estacionamento automóvel e logística,

| — | Trados M-45: gestão de concessões rodoviárias. |
| --- | --- |

—

Trados M-45: gestão de concessões rodoviárias.

| 3. | Após uma análise preliminar, a Comissão considera que a operação de concentração notificada pode encontrar-se abrangida pelo âmbito de aplicação do Regulamento das concentrações comunitárias. Contudo, a Comissão reserva-se a faculdade de tomar uma decisão final sobre este ponto. |
| --- | --- |

3.

Após uma análise preliminar, a Comissão considera que a operação de concentração notificada pode encontrar-se abrangida pelo âmbito de aplicação do Regulamento das concentrações comunitárias. Contudo, a Comissão reserva-se a faculdade de tomar uma decisão final sobre este ponto.

| 4. | A Comissão solicita aos terceiros interessados que lhe apresentem as suas eventuais observações sobre o projecto de concentração em causa.
  As observações devem ser recebidas pela Comissão no prazo de 10 dias após a data de publicação da presente comunicação. Podem ser enviadas por fax (+32 22964301), por correio electrónico para COMP-MERGER-REGISTRY@ec.europa.eu ou pelo correio, com a referência COMP/M.5974 — Finavias/Abertis/Autopista Trados M-45, para o seguinte endereço:





  Comissão Europeia |
| --- | --- |
| Direcção-Geral da Concorrência |
| Registo das Concentrações |
| J-70 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

A Comissão solicita aos terceiros interessados que lhe apresentem as suas eventuais observações sobre o projecto de concentração em causa.

As observações devem ser recebidas pela Comissão no prazo de 10 dias após a data de publicação da presente comunicação. Podem ser enviadas por fax (+32 22964301), por correio electrónico para COMP-MERGER-REGISTRY@ec.europa.eu ou pelo correio, com a referência COMP/M.5974 — Finavias/Abertis/Autopista Trados M-45, para o seguinte endereço:

Comissão Europeia

Direcção-Geral da Concorrência

Registo das Concentrações

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  JO L 24 de 29.1.2004, p. 1 («Regulamento das concentrações comunitárias»).

---

| 1.10.2010 | PT | Jornal Oficial da União Europeia | C 266/12 |
| --- | --- | --- | --- |

1.10.2010

PT

Jornal Oficial da União Europeia

C 266/12

---

Notificação prévia de uma concentração

(Processo COMP/M.5994 — Apotheek Docmorris/K-Mail Order/JV)

Processo susceptível de beneficiar do procedimento simplificado

(Texto relevante para efeitos do EEE)

2010/C 266/07

| 1. | A Comissão recebeu, em 22 de Setembro de 2010, uma notificação de um projecto de concentração, nos termos do artigo 4.o do Regulamento (CE) n.o 139/2004 do Conselho (1), através da qual as empresas Apotheek DocMorris N.V. (Países Baixos), pertencente ao grupo Haniel, e K-mail Order GmbH & Co KG (Alemanha) adquirem, na acepção do artigo 3.o, n.o 1, alínea b), do Regulamento das concentrações comunitárias, o controlo conjunto da empresa Wellsana B.V. (Países Baixos), mediante aquisição de acções da nova empresa criada que constitui uma empresa comum. |
| --- | --- |

1.

A Comissão recebeu, em 22 de Setembro de 2010, uma notificação de um projecto de concentração, nos termos do artigo 4.o do Regulamento (CE) n.o 139/2004 do Conselho (1), através da qual as empresas Apotheek DocMorris N.V. (Países Baixos), pertencente ao grupo Haniel, e K-mail Order GmbH & Co KG (Alemanha) adquirem, na acepção do artigo 3.o, n.o 1, alínea b), do Regulamento das concentrações comunitárias, o controlo conjunto da empresa Wellsana B.V. (Países Baixos), mediante aquisição de acções da nova empresa criada que constitui uma empresa comum.

| 2. | As actividades das empresas em causa são:






  — | Apotheek DocMorris N.V.: venda de produtos farmacêuticos ao público através de uma farmácia, |
| --- | --- | --- |

2.

As actividades das empresas em causa são:

—

Apotheek DocMorris N.V.: venda de produtos farmacêuticos ao público através de uma farmácia,

| — | K-mail Order GmbH & Co KG: venda a retalho de artigos de moda, joalharia, bens para o lar e produtos de saúde. |
| --- | --- |

—

K-mail Order GmbH & Co KG: venda a retalho de artigos de moda, joalharia, bens para o lar e produtos de saúde.

| 3. | Após uma análise preliminar, a Comissão considera que a operação de concentração notificada pode encontrar-se abrangida pelo âmbito de aplicação do Regulamento das concentrações comunitárias. Contudo, a Comissão reserva-se a faculdade de tomar uma decisão final sobre este ponto. De acordo com a Comunicação da Comissão relativa a um procedimento simplificado de tratamento de certas operações de concentração nos termos do Regulamento das concentrações comunitárias (2), o referido processo é susceptível de beneficiar da aplicação do procedimento previsto na Comunicação. |
| --- | --- |

3.

Após uma análise preliminar, a Comissão considera que a operação de concentração notificada pode encontrar-se abrangida pelo âmbito de aplicação do Regulamento das concentrações comunitárias. Contudo, a Comissão reserva-se a faculdade de tomar uma decisão final sobre este ponto. De acordo com a Comunicação da Comissão relativa a um procedimento simplificado de tratamento de certas operações de concentração nos termos do Regulamento das concentrações comunitárias (2), o referido processo é susceptível de beneficiar da aplicação do procedimento previsto na Comunicação.

| 4. | A Comissão solicita aos terceiros interessados que lhe apresentem as suas eventuais observações sobre o projecto de concentração em causa.
  As observações devem ser recebidas pela Comissão no prazo de 10 dias após a data de publicação da presente comunicação. Podem ser enviadas por fax (+32 22964301), por correio electrónico para COMP-MERGER-REGISTRY@ec.europa.eu ou por via postal, com a referência COMP/M.5994 — Apotheek Docmorris/K-Mail Order/JV, para o seguinte endereço:





  Comissão Europeia |
| --- | --- |
| Direcção-Geral da Concorrência |
| Registo das Concentrações |
| J-70 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

A Comissão solicita aos terceiros interessados que lhe apresentem as suas eventuais observações sobre o projecto de concentração em causa.

As observações devem ser recebidas pela Comissão no prazo de 10 dias após a data de publicação da presente comunicação. Podem ser enviadas por fax (+32 22964301), por correio electrónico para COMP-MERGER-REGISTRY@ec.europa.eu ou por via postal, com a referência COMP/M.5994 — Apotheek Docmorris/K-Mail Order/JV, para o seguinte endereço:

Comissão Europeia

Direcção-Geral da Concorrência

Registo das Concentrações

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  JO L 24 de 29.1.2004, p. 1 («Regulamento das concentrações comunitárias»).

(2)  JO C 56 de 5.3.2005, p. 32 («Comunicação relativa ao procedimento simplificado»).

---