# Uradni list C 266/2010

| | ISSN 1725-5244
  doi:10.3000/17255244.C_2010.266.slv |
| --- | --- |
| Uradni list
  Evropske unije | C 266 |
| | |
| Slovenska izdaja | Informacije in objave | Zvezek 531. oktober 2010 |

ISSN 1725-5244

doi:10.3000/17255244.C_2010.266.slv

Uradni list

Evropske unije

C 266

Slovenska izdaja

Informacije in objave

Zvezek 531. oktober 2010

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| Obvestilo št. | Vsebina | Stran |
| --- | --- | --- |
| | II   Sporočila |
| | SPOROČILA INSTITUCIJ, ORGANOV, URADOV IN AGENCIJ EVROPSKE UNIJE |
| | Evropska komisija |
| 2010/C 266/01 | Odobritev državne pomoči v okviru določb členov 87 in 88 Pogodbe ES – Primeri, v katerih Komisija ne vloži ugovora (
  1
  ) | 1 |
| 2010/C 266/02 | Nenasprotovanje priglašeni koncentraciji (Zadeva COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  ) | 2 |

Obvestilo št.

Vsebina

Stran

II   Sporočila

SPOROČILA INSTITUCIJ, ORGANOV, URADOV IN AGENCIJ EVROPSKE UNIJE

Evropska komisija

2010/C 266/01

Odobritev državne pomoči v okviru določb členov 87 in 88 Pogodbe ES – Primeri, v katerih Komisija ne vloži ugovora (
  1
  )

1

1

2010/C 266/02

Nenasprotovanje priglašeni koncentraciji (Zadeva COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  )

1

2

| | IV   Informacije |
| --- | --- |
| | INFORMACIJE INSTITUCIJ, ORGANOV, URADOV IN AGENCIJ EVROPSKE UNIJE |
| | Evropska komisija |
| 2010/C 266/03 | Menjalni tečaji eura | 3 |

IV   Informacije

INFORMACIJE INSTITUCIJ, ORGANOV, URADOV IN AGENCIJ EVROPSKE UNIJE

Evropska komisija

2010/C 266/03

Menjalni tečaji eura

3

| | V   Objave |
| --- | --- |
| | POSTOPKI V ZVEZI Z IZVAJANJEM SKUPNE TRGOVINSKE POLITIKE |
| | Evropska komisija |
| 2010/C 266/04 | Obvestilo v zvezi s protidampinškimi ukrepi, ki se uporabljajo za uvoz določenega polietilen tereftalata s poreklom, med drugim, iz Malezije v Unijo: sprememba imena družbe, za katero velja individualna stopnja protidampinške dajatve | 4 |
| | POSTOPKI V ZVEZI Z IZVAJANJEM POLITIKE KONKURENCE |
| | Evropska komisija |
| 2010/C 266/05 | Državne pomoči – Avstrija – Državna pomoč C 16/09 – Hypo Group Alpe Adria (HGAA) – Poziv k predložitvi pripomb na podlagi člena 108(2) Pogodbe o delovanju Evropske unije (
  1
  ) | 5 |
| 2010/C 266/06 | Predhodna priglasitev koncentracije (Zadeva COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  ) | 11 |
| 2010/C 266/07 | Predhodna priglasitev koncentracije (Zadeva COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Zadeva, primerna za obravnavo po poenostavljenem postopku (
  1
  ) | 12 |

V   Objave

POSTOPKI V ZVEZI Z IZVAJANJEM SKUPNE TRGOVINSKE POLITIKE

Evropska komisija

2010/C 266/04

Obvestilo v zvezi s protidampinškimi ukrepi, ki se uporabljajo za uvoz določenega polietilen tereftalata s poreklom, med drugim, iz Malezije v Unijo: sprememba imena družbe, za katero velja individualna stopnja protidampinške dajatve

4

POSTOPKI V ZVEZI Z IZVAJANJEM POLITIKE KONKURENCE

Evropska komisija

2010/C 266/05

Državne pomoči – Avstrija – Državna pomoč C 16/09 – Hypo Group Alpe Adria (HGAA) – Poziv k predložitvi pripomb na podlagi člena 108(2) Pogodbe o delovanju Evropske unije (
  1
  )

1

5

2010/C 266/06

Predhodna priglasitev koncentracije (Zadeva COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  )

1

11

2010/C 266/07

Predhodna priglasitev koncentracije (Zadeva COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Zadeva, primerna za obravnavo po poenostavljenem postopku (
  1
  )

1

12

| | |
| --- | --- |
| | (1)   Besedilo velja za EGP |

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(1)   Besedilo velja za EGP

1

| SL | |
| --- | --- |

SL

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II Sporočila

SPOROČILA INSTITUCIJ, ORGANOV, URADOV IN AGENCIJ EVROPSKE UNIJE

Evropska komisija

| 1.10.2010 | SL | Uradni list Evropske unije | C 266/1 |
| --- | --- | --- | --- |

1.10.2010

SL

Uradni list Evropske unije

C 266/1

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Odobritev državne pomoči v okviru določb členov 87 in 88 Pogodbe ES

Primeri, v katerih Komisija ne vloži ugovora

(Besedilo velja za EGP)

2010/C 266/01

| Datum sprejetja odločitve | 23.2.2009 |
| --- | --- |
| Referenčna številka državne pomoči | N 727/07 |
| Država članica | Italija |
| Regija | Veneto |
| Naziv (in/ali ime upravičenca) | Istituzione del «Fondo di rotazione per le agrienergie» |
| Pravna podlaga | Legge regionale 12 dicembre 2003 n. 40 «Nuove norme per gli interventi in agricoltura» articolo 58 ter |
| Vrsta ukrepa | Shema pomoči |
| Cilj | Varstvo okolja |
| Oblika pomoči | Subvencioniranje obresti |
| Proračun | Skupni znesek načrtovane pomoči 30 mio. EUR |
| Intenzivnost | 80 % |
| Trajanje | Do 31.12.2010 |
| Gospodarski sektorji | Oskrba z električno energijo, plinom in vodo |
| Naziv in naslov organa, ki dodeli pomoč | Giunta Regionale Regione Veneto |
| Palazzo Balbi |
| 3013 Venezia VE |
| ITALIA |

Datum sprejetja odločitve

23.2.2009

Referenčna številka državne pomoči

N 727/07

Država članica

Italija

Regija

Veneto

Naziv (in/ali ime upravičenca)

Istituzione del «Fondo di rotazione per le agrienergie»

Pravna podlaga

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

Vrsta ukrepa

Shema pomoči

Cilj

Varstvo okolja

Oblika pomoči

Subvencioniranje obresti

Proračun

Skupni znesek načrtovane pomoči 30 mio. EUR

Intenzivnost

80 %

Trajanje

Do 31.12.2010

Gospodarski sektorji

Oskrba z električno energijo, plinom in vodo

Naziv in naslov organa, ki dodeli pomoč

Giunta Regionale Regione Veneto

Palazzo Balbi

3013 Venezia VE

ITALIA

Drugi podatki

—

Verodostojno besedilo odločitve, iz katerega so bili odstranjeni vsi zaupni podatki, je na voljo na spletni strani:

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

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| 1.10.2010 | SL | Uradni list Evropske unije | C 266/2 |
| --- | --- | --- | --- |

1.10.2010

SL

Uradni list Evropske unije

C 266/2

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Nenasprotovanje priglašeni koncentraciji

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

(Besedilo velja za EGP)

2010/C 266/02

Komisija se je 12. avgusta 2010 odločila, da ne bo nasprotovala zgoraj navedeni priglašeni koncentraciji in jo bo razglasila za združljivo s skupnim trgom. Ta odločitev je sprejeta v skladu s členom 6(1)(b) Uredbe Sveta (ES) št. 139/2004. Celotno besedilo odločitve je na voljo samo v francoščini in bo objavljeno po tem, ko bodo iz besedila odstranjene morebitne poslovne skrivnosti. Na voljo bo:

| — | v razdelku o združitvah na spletišču Komisije o konkurenci (http://ec.europa.eu/competition/mergers/cases/). Spletišče vsebuje različne pripomočke za iskanje posameznih odločitev o združitvah, vključno z nazivi podjetij, številkami zadev, datumi ter indeksi področij, |
| --- | --- |

—

v razdelku o združitvah na spletišču Komisije o konkurenci (http://ec.europa.eu/competition/mergers/cases/). Spletišče vsebuje različne pripomočke za iskanje posameznih odločitev o združitvah, vključno z nazivi podjetij, številkami zadev, datumi ter indeksi področij,

| — | v elektronski obliki na spletišču EUR-Lex (http://eur-lex.europa.eu/sl/index.htm) pod dokumentarno številko 32010M5741. EUR-Lex zagotavlja spletni dostop do evropskega prava. |
| --- | --- |

—

v elektronski obliki na spletišču EUR-Lex (http://eur-lex.europa.eu/sl/index.htm) pod dokumentarno številko 32010M5741. EUR-Lex zagotavlja spletni dostop do evropskega prava.

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IV Informacije

INFORMACIJE INSTITUCIJ, ORGANOV, URADOV IN AGENCIJ EVROPSKE UNIJE

Evropska komisija

| 1.10.2010 | SL | Uradni list Evropske unije | C 266/3 |
| --- | --- | --- | --- |

1.10.2010

SL

Uradni list Evropske unije

C 266/3

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Menjalni tečaji eura (1)

30. septembra 2010

2010/C 266/03

1 euro =

| | Valuta | Menjalni tečaj |
| --- | --- | --- |
| USD | ameriški dolar | 1,3648 |
| JPY | japonski jen | 113,68 |
| DKK | danska krona | 7,4519 |
| GBP | funt šterling | 0,85995 |
| SEK | švedska krona | 9,1421 |
| CHF | švicarski frank | 1,3287 |
| ISK | islandska krona | |
| NOK | norveška krona | 7,9680 |
| BGN | lev | 1,9558 |
| CZK | češka krona | 24,600 |
| EEK | estonska krona | 15,6466 |
| HUF | madžarski forint | 275,75 |
| LTL | litovski litas | 3,4528 |
| LVL | latvijski lats | 0,7094 |
| PLN | poljski zlot | 3,9847 |
| RON | romunski leu | 4,2718 |
| TRY | turška lira | 1,9806 |
| AUD | avstralski dolar | 1,4070 |
| CAD | kanadski dolar | 1,4073 |
| HKD | hongkonški dolar | 10,5918 |
| NZD | novozelandski dolar | 1,8436 |
| SGD | singapurski dolar | 1,7942 |
| KRW | južnokorejski won | 1 550,65 |
| ZAR | južnoafriški rand | 9,5438 |
| CNY | kitajski juan | 9,1321 |
| HRK | hrvaška kuna | 7,3058 |
| IDR | indonezijska rupija | 12 173,44 |
| MYR | malezijski ringit | 4,2101 |
| PHP | filipinski peso | 59,869 |
| RUB | ruski rubelj | 41,6923 |
| THB | tajski bat | 41,442 |
| BRL | brazilski real | 2,3201 |
| MXN | mehiški peso | 17,1258 |
| INR | indijska rupija | 61,2470 |

Valuta

Menjalni tečaj

USD

ameriški dolar

1,3648

JPY

japonski jen

113,68

DKK

danska krona

7,4519

GBP

funt šterling

0,85995

SEK

švedska krona

9,1421

CHF

švicarski frank

1,3287

ISK

islandska krona

NOK

norveška krona

7,9680

BGN

lev

1,9558

CZK

češka krona

24,600

EEK

estonska krona

15,6466

HUF

madžarski forint

275,75

LTL

litovski litas

3,4528

LVL

latvijski lats

0,7094

PLN

poljski zlot

3,9847

RON

romunski leu

4,2718

TRY

turška lira

1,9806

AUD

avstralski dolar

1,4070

CAD

kanadski dolar

1,4073

HKD

hongkonški dolar

10,5918

NZD

novozelandski dolar

1,8436

SGD

singapurski dolar

1,7942

KRW

južnokorejski won

1 550,65

ZAR

južnoafriški rand

9,5438

CNY

kitajski juan

9,1321

HRK

hrvaška kuna

7,3058

IDR

indonezijska rupija

12 173,44

MYR

malezijski ringit

4,2101

PHP

filipinski peso

59,869

RUB

ruski rubelj

41,6923

THB

tajski bat

41,442

BRL

brazilski real

2,3201

MXN

mehiški peso

17,1258

INR

indijska rupija

61,2470

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(1)  Vir: referenčni menjalni tečaj, ki ga objavlja ECB.

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V Objave

POSTOPKI V ZVEZI Z IZVAJANJEM SKUPNE TRGOVINSKE POLITIKE

Evropska komisija

| 1.10.2010 | SL | Uradni list Evropske unije | C 266/4 |
| --- | --- | --- | --- |

1.10.2010

SL

Uradni list Evropske unije

C 266/4

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Obvestilo v zvezi s protidampinškimi ukrepi, ki se uporabljajo za uvoz določenega polietilen tereftalata s poreklom, med drugim, iz Malezije v Unijo: sprememba imena družbe, za katero velja individualna stopnja protidampinške dajatve

2010/C 266/04

Za uvoz določenega polietilen tereftalata s poreklom iz Malezije se uporablja dokončna protidampinška dajatev, uvedena z Uredbo Sveta (ES) št. 192/2007 (1), (v nadaljnjem besedilu: Uredba (ES) št. 192/2007).

Hualon Corporation (M) Sdn. Bhd. („Hualon“), družba s sedežem v Maleziji, za katere izvoz določenega polietilen tereftalata v Unijo se uporablja individualna protidampinška dajatev v višini 36,0 EUR/tono, uvedena s členom 1(2) Uredbe (ES) št. 192/2007, je Komisijo obvestila, da je po stečaju 23. julija 2008 vsa njena malezijska sredstva in obveznosti prevzela družba Recron (Malaysia) Sdn. Bhd. („Recron“), ki je postala pravna naslednica.

Družba Hualon meni, da prevzem in sprememba imena ne vplivata na dejavnosti družbe, kar zadeva izdelke, in s tem na upravičenost družbe Recron do individualne stopnje protidampinške dajatve, ki se je uporabljala za družbo Hualon v skladu z Uredbo (ES) št. 192/2007.

Komisija je preučila predložene informacije in na podlagi dejstva, da je družbo, ki zahteva spremembo imena, prevzela družba, ki zadevnih izdelkov še ni proizvajala, sklenila, da sprememba imena nikakor ne vpliva na ugotovitve iz Uredbe (ES) št. 192/2007. Zato se mora sklicevanje v členu 1(2) Uredbe (ES) št. 192/2007 na:

Hualon Corp. (M) Sdn. Bhd.

glasiti:

Recron (Malaysia) Sdn. Bhd.

Dodatna oznaka TARIC A186, ki je bila prej dodeljena Hualon Corp. (M) Sdn. Bhd., se uporablja za Recron (Malaysia) Sdn. Bhd.

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(1)  UL L 59, 27.2.2007, str. 1.

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POSTOPKI V ZVEZI Z IZVAJANJEM POLITIKE KONKURENCE

Evropska komisija

| 1.10.2010 | SL | Uradni list Evropske unije | C 266/5 |
| --- | --- | --- | --- |

1.10.2010

SL

Uradni list Evropske unije

C 266/5

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DRŽAVNE POMOČI – AVSTRIJA

Državna pomoč C 16/09 – Hypo Group Alpe Adria (HGAA)

Poziv k predložitvi pripomb na podlagi člena 108(2) Pogodbe o delovanju Evropske unije

(Besedilo velja za EGP)

2010/C 266/05

Z dopisom v verodostojnem jeziku z dne 22. junija 2010 na straneh, ki sledijo temu povzetku, je Komisija uradno obvestila Avstrijo o svoji odločitvi, da podaljša odobritev pomoči, ki se začasno šteje za združljivo z notranjim trgom, ter podaljša postopek na podlagi člena 108(2) Pogodbe o delovanju Evropske unije.

Zainteresirane strani lahko predložijo svoje pripombe o ukrepih, v zvezi s katerimi Komisija podaljšuje postopek, v dveh tednih od datuma objave tega povzetka in dopisa, ki sledi, na naslednji naslov:

| European Commission |
| --- |
| Directorate-General for Competition |
| State aid Greffe |
| Office: J-70, 03/219 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |
| Faks +32 22961242 |

European Commission

Directorate-General for Competition

State aid Greffe

Office: J-70, 03/219

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

Faks +32 22961242

Te pripombe se pošljejo Avstriji. Zainteresirana stran, ki predloži pripombe, lahko pisno zaprosi za zaupno obravnavo svoje identitete in navede razloge za to.

1.   POSTOPEK

Evropska komisija je v svoji odločitvi z dne 18. decembra 2008 (zadeva N 615/08) odobrila nujno državno pomoč Nemčije banki BayernLB, večinski lastnici družbe HGAA, v obliki omejitve tveganja v višini 4,8 milijarde EUR in dokapitalizacije v višini 10 milijard EUR na podlagi člena 107(3)(b) Pogodbe o delovanju Evropske unije, in sicer za šest mesecev oziroma do predložitve verodostojnega in utemeljenega načrta prestrukturiranja banke. Banka BayernLB je lahko s to pomočjo v svojo hčerinsko družbo HGAA vložila 700 milijonov EUR. Avstrija je v istem mesecu v okviru avstrijskega programa pomoči bančnemu sektorju odobrila dokapitalizacijo za družbo HGAA v višini 900 milijonov EUR.

Nemčija je 29. aprila 2009 Komisiji priglasila načrt prestrukturiranja za BayernLB, vključno s hčerinsko družbo HGAA. Avstrija je za družbo HGAA istega dne predložila načrt za uspešno poslovanje, ki ga morajo zagotoviti načeloma trdne banke, vključene v avstrijski program pomoči bančnemu sektorju.

Komisija je v svoji odločitvi z dne 12. maja 2009 v zadevi N 254/09 („odločitev o sprožitvi postopka“) izrazila pomisleke glede združljivosti pomoči, odobrene banki BayernLB, z notranjim trgom. Podvomila je tudi v trdno finančno stanje hčerinske družbe HGAA in združljivost pomoči, ki jo je Avstrija odobrila družbi HGAA, s členom 107(3)(b) Pogodbe o delovanju Evropske unije.

Avstrija je 18. decembra 2009 priglasila dodatne ukrepe pomoči.

Komisija je v svoji odločitvi z dne 23. decembra 2009 v zadevah C 16/09 in N 698/09 menila, da so ukrepi za družbo HGAA iz odstavka 2 začasno združljivi z notranjim trgom na podlagi člena 107(3)(b) Pogodbe o delovanju Evropske unije, in sicer do predložitve verodostojnega načrta prestrukturiranja in ocene tega načrta, ki jo pripravi Komisija, vendar za največ šest mesecev. Zaradi upoštevanja teh dodatnih ukrepov je bil podaljšan tudi postopek iz člena 108(2) Pogodbe o delovanju Evropske unije.

Avstrija je aprila 2010 predložila načrt prestrukturiranja za družbo HGAA.

Ker ocena plana prestrukturiranja in pomoči v okviru Komisije še poteka, je Avstrija zaprosila za podaljšanje začasne odobritve teh ukrepov.

2.   UKREPI ZA DRUŽBO HGAA

Družba HGAA je prejela 700 milijonov EUR od banke BayernLB in 900 milijonov EUR od Republike Avstrije za povečanje svojega temeljnega kapitala (Partizipationskapital), pa tudi likvidnostne garancije v višini 1,35 milijarde EUR za izdajo obveznic v okviru avstrijskega programa pomoči bančnemu sektorju.

Poleg tega so bili za družbo HGAA sprejeti naslednji ukrepi pomoči, ki so bili začasno odobreni z odločitvijo iz decembra 2009:

| — | začasna garancija v višini 100 milijonov EUR od Avstrije pod pogoji za banke v težavah v okviru avstrijskega programa pomoči bančnemu sektorju, |
| --- | --- |

—

začasna garancija v višini 100 milijonov EUR od Avstrije pod pogoji za banke v težavah v okviru avstrijskega programa pomoči bančnemu sektorju,

| — | dokapitalizacija v višini 200 milijonov EUR od Koroške s 6-odstotno dividendo, ki bo prvič izplačljiva v poslovnem letu 2013, |
| --- | --- |

—

dokapitalizacija v višini 200 milijonov EUR od Koroške s 6-odstotno dividendo, ki bo prvič izplačljiva v poslovnem letu 2013,

| — | dodatna dokapitalizacija od Avstrije pod pogoji za banke v težavah v okviru avstrijskega programa pomoči bančnemu sektorju za maksimalni znesek 350 milijonov EUR, |
| --- | --- |

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dodatna dokapitalizacija od Avstrije pod pogoji za banke v težavah v okviru avstrijskega programa pomoči bančnemu sektorju za maksimalni znesek 350 milijonov EUR,

| — | likvidnostni ukrepi v višini približno 200 milijonov EUR, ki jih je zagotovila Koroška v okviru obstoječih poslovnih odnosov. |
| --- | --- |

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likvidnostni ukrepi v višini približno 200 milijonov EUR, ki jih je zagotovila Koroška v okviru obstoječih poslovnih odnosov.

3.   OCENA

Komisija je že v svojih odločitvah z dne 12. maja 2009 in 23. decembra 2009 menila, da ukrepi, odobreni družbi HGAA, pomenijo državno pomoč.

S predložitvijo načrta prestrukturiranja prvotni dvomi o združljivosti ukrepov pomoči, izraženi v obeh predhodnih odločitvah, niso bili odpravljeni.

Komisija dvomi, da je splošni poslovni model banke sposoben ponovno vzpostaviti rentabilnost.

Glede na nizko oceno družbe HGAA in pričakovano povišanje stroškov financiranja zaradi izteka garancij Koroške ter finančne podpore nekdanje lastnice BayernLB se Komisija poleg tega sprašuje, ali bo morala družba HGAA še izraziteje preusmeriti svoj poslovni model, kar bi lahko še zlasti vplivalo na njeno zagotavljanje finančnih storitev javnemu sektorju, za katere so značilne nizke marže.

Poleg tega Komisija meni, da ima družba HGAA zaradi nizke in vedno slabše kakovosti svoje knjige posojil velike težave s kakovostjo aktive, ter dvomi, da bi bile lahko osnovne težave glede postopkov odločanja in upravljanja tveganj pravočasno odpravljene.

Komisija poleg tega dvomi, da bi lahko banka poplačala lastni kapital, kot je določeno v sporočilu o prestrukturiranju, ki zahteva ustrezno donosnost lastniškega kapitala v skladu s profilom tveganja banke. Prav tako dvomi, da bi bila banka sposobna zagotoviti ustrezno poplačilo ob upoštevanju običajnih tržnih pogojev ali pravočasno poplačati kapital, ki ga je zagotovila država.

Poleg tega se Komisija sprašuje, ali je kapitalski vložek Avstrije v družbo HGAA v okviru avstrijskega programa pomoči bančnemu sektorju ustrezno poplačan, ker je Avstrija v času kapitalskega vložka decembra 2008 banko označila kot načeloma trdno in ji zato odobrila ugodnejše obrestne mere. Komisija opozarja, da je v svoji odločitvi iz maja 2009 dvomila v oceno Avstrije o načeloma trdnem finančnem stanju banke.

Glede ukrepov za preprečitev izkrivljanj konkurence Komisija opozarja na svoje dvome, da predlagani ukrepi ne zadostujejo za ustrezno omejitev izkrivljanj, ki jih je povzročila pomoč. Zdi se zlasti, da se večina odprodaj, ki jih načrtuje družba HGAA, osredotoča na dejavnosti, ki prinašajo izgube, in so zato nujne za ponovno vzpostavitev uspešnega poslovanja. Drugače povedano Komisija meni, da bi bili potrebni dodatni ukrepi za preprečitev izkrivljanj konkurence, ki jih povzroča pomoč.

BESEDILO DOPISA

„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. |
| --- | --- |

(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

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| 1.10.2010 | SL | Uradni list Evropske unije | C 266/11 |
| --- | --- | --- | --- |

1.10.2010

SL

Uradni list Evropske unije

C 266/11

---

Predhodna priglasitev koncentracije

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

(Besedilo velja za EGP)

2010/C 266/06

| 1. | Komisija je 23. septembra 2010 prejela priglasitev predlagane koncentracije v skladu s členom 4 Uredbe Sveta (ES) št. 139/2004 (1), s katero podjetje Finavias S.à r.l („Finavias“, Luksemburg), ki je pod nadzorom podjetja AXA Investment Managers Private Equity SA („AXA Private Equity“, Francija), ki je del skupine AXA („AXA“, Francija), in podjetje Iberpistas, ki je pod nadzorom podjetja Abertis Infraestructuras, SA („Abertis“, Španija), z nakupom delnic pridobita v smislu člena 3(1)(b) Uredbe o združitvah skupni nadzor nad podjetjem Autopista Trados M-45 („Trados M-45“, Španija). |
| --- | --- |

1.

Komisija je 23. septembra 2010 prejela priglasitev predlagane koncentracije v skladu s členom 4 Uredbe Sveta (ES) št. 139/2004 (1), s katero podjetje Finavias S.à r.l („Finavias“, Luksemburg), ki je pod nadzorom podjetja AXA Investment Managers Private Equity SA („AXA Private Equity“, Francija), ki je del skupine AXA („AXA“, Francija), in podjetje Iberpistas, ki je pod nadzorom podjetja Abertis Infraestructuras, SA („Abertis“, Španija), z nakupom delnic pridobita v smislu člena 3(1)(b) Uredbe o združitvah skupni nadzor nad podjetjem Autopista Trados M-45 („Trados M-45“, Španija).

| 2. | Poslovne dejavnosti zadevnih podjetij so:






  — | za Finavias: upravljanje zasebnega kapitala in premoženja, |
| --- | --- | --- |

2.

Poslovne dejavnosti zadevnih podjetij so:

—

za Finavias: upravljanje zasebnega kapitala in premoženja,

| — | za AXA Private Equity: upravljanje premoženja in naložbe v podjetja, ki ne kotirajo na borzi, ali investicijske sklade.. Pripada skupini AXA, mednarodni skupini, dejavni na področju zagotavljanja življenjskega in neživljenjskega zavarovanja ter s tem povezanih finančnih storitev, |
| --- | --- |

—

za AXA Private Equity: upravljanje premoženja in naložbe v podjetja, ki ne kotirajo na borzi, ali investicijske sklade.. Pripada skupini AXA, mednarodni skupini, dejavni na področju zagotavljanja življenjskega in neživljenjskega zavarovanja ter s tem povezanih finančnih storitev,

| — | za Abertis: infrastruktura za mobilno telefonijo in telekomunikacije v dejavnostih, ki temeljijo na plačilu pristojbin: cestninske ceste, infrastruktura za telekomunikacije, letališča, parkirišča in logistični centri, |
| --- | --- |

—

za Abertis: infrastruktura za mobilno telefonijo in telekomunikacije v dejavnostih, ki temeljijo na plačilu pristojbin: cestninske ceste, infrastruktura za telekomunikacije, letališča, parkirišča in logistični centri,

| — | za Trados M-45: upravljanje koncesij za ceste. |
| --- | --- |

—

za Trados M-45: upravljanje koncesij za ceste.

| 3. | Po predhodnem pregledu Komisija ugotavlja, da bi priglašena transakcija lahko spadala v področje uporabe Uredbe ES o združitvah. Vendar končna odločitev o tej točki še ni sprejeta. |
| --- | --- |

3.

Po predhodnem pregledu Komisija ugotavlja, da bi priglašena transakcija lahko spadala v področje uporabe Uredbe ES o združitvah. Vendar končna odločitev o tej točki še ni sprejeta.

| 4. | Komisija zainteresirane tretje osebe poziva, naj ji predložijo svoje morebitne pripombe glede predlagane transakcije.
  Komisija mora prejeti pripombe najpozneje v 10 dneh po datumu te objave. Pripombe lahko pošljete Komisiji po telefaksu (+32 22964301), po elektronski pošti na naslov COMP-MERGER-REGISTRY@ec.europa.eu ali po pošti z navedbo sklicne številke COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45 na naslov:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| J-70 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

Komisija zainteresirane tretje osebe poziva, naj ji predložijo svoje morebitne pripombe glede predlagane transakcije.

Komisija mora prejeti pripombe najpozneje v 10 dneh po datumu te objave. Pripombe lahko pošljete Komisiji po telefaksu (+32 22964301), po elektronski pošti na naslov COMP-MERGER-REGISTRY@ec.europa.eu ali po pošti z navedbo sklicne številke COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45 na naslov:

European Commission

Directorate-General for Competition

Merger Registry

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  UL L 24, 29.1.2004, str. 1 (Uredba ES o združitvah).

---

| 1.10.2010 | SL | Uradni list Evropske unije | C 266/12 |
| --- | --- | --- | --- |

1.10.2010

SL

Uradni list Evropske unije

C 266/12

---

Predhodna priglasitev koncentracije

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

Zadeva, primerna za obravnavo po poenostavljenem postopku

(Besedilo velja za EGP)

2010/C 266/07

| 1. | Komisija je 22. septembra 2010 prejela priglasitev predlagane koncentracije v skladu s členom 4 Uredbe Sveta (ES) št. 139/2004 (1), s katero podjetje Apotheek DocMorris N.V. (Nizozemska), ki pripada skupini Haniel, in podjetje K-mail Order GmbH & Co KG (Nemčija) z nakupom delnic v novoustanovljenem skupnem podjetju pridobita v smislu člena 3(1)(a) Uredbe o združitvah skupni nadzor nad podjetjem Wellsana B.V. (Nizozemska). |
| --- | --- |

1.

Komisija je 22. septembra 2010 prejela priglasitev predlagane koncentracije v skladu s členom 4 Uredbe Sveta (ES) št. 139/2004 (1), s katero podjetje Apotheek DocMorris N.V. (Nizozemska), ki pripada skupini Haniel, in podjetje K-mail Order GmbH & Co KG (Nemčija) z nakupom delnic v novoustanovljenem skupnem podjetju pridobita v smislu člena 3(1)(a) Uredbe o združitvah skupni nadzor nad podjetjem Wellsana B.V. (Nizozemska).

| 2. | Poslovne dejavnosti zadevnih podjetij so:






  — | za podjetje Apotheek DocMorris N.V.: trgovina na drobno s farmacevtskimi proizvodi prek lekarne, |
| --- | --- | --- |

2.

Poslovne dejavnosti zadevnih podjetij so:

—

za podjetje Apotheek DocMorris N.V.: trgovina na drobno s farmacevtskimi proizvodi prek lekarne,

| — | za K-mail Order GmbH & Co KG: trgovina na drobno z modnimi izdelki, nakitom, izdelki široke porabe ter zdravstvenimi izdelki. |
| --- | --- |

—

za K-mail Order GmbH & Co KG: trgovina na drobno z modnimi izdelki, nakitom, izdelki široke porabe ter zdravstvenimi izdelki.

| 3. | Po predhodnem pregledu Komisija ugotavlja, da bi priglašena transakcija lahko spadala v področje uporabe Uredbe ES o združitvah. Vendar končna odločitev o tej točki še ni sprejeta. Na podlagi Obvestila Komisije o poenostavljenem postopku obravnave določenih koncentracij v okviru Uredbe ES o združitvah (2) je treba opozoriti, da je ta zadeva primerna za obravnavo po postopku, iz Obvestila. |
| --- | --- |

3.

Po predhodnem pregledu Komisija ugotavlja, da bi priglašena transakcija lahko spadala v področje uporabe Uredbe ES o združitvah. Vendar končna odločitev o tej točki še ni sprejeta. Na podlagi Obvestila Komisije o poenostavljenem postopku obravnave določenih koncentracij v okviru Uredbe ES o združitvah (2) je treba opozoriti, da je ta zadeva primerna za obravnavo po postopku, iz Obvestila.

| 4. | Komisija zainteresirane tretje osebe poziva, naj ji predložijo svoje morebitne pripombe glede predlagane transakcije.
  Komisija mora prejeti pripombe najpozneje v 10 dneh po datumu te objave. Pripombe lahko pošljete Komisiji po telefaksu (+32 22964301), po elektronski pošti na naslov COMP-MERGER-REGISTRY@ec.europa.eu ali po pošti z navedbo sklicne številke COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV na naslov:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| J-70 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

Komisija zainteresirane tretje osebe poziva, naj ji predložijo svoje morebitne pripombe glede predlagane transakcije.

Komisija mora prejeti pripombe najpozneje v 10 dneh po datumu te objave. Pripombe lahko pošljete Komisiji po telefaksu (+32 22964301), po elektronski pošti na naslov COMP-MERGER-REGISTRY@ec.europa.eu ali po pošti z navedbo sklicne številke COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV na naslov:

European Commission

Directorate-General for Competition

Merger Registry

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  UL L 24, 29.1.2004, str. 1 (Uredba ES o združitvah).

(2)  UL C 56, 5.3.2005, str. 32 (Obvestilo o poenostavljenem postopku).

---