# Jurnalul Oficial C 266/2010

| | ISSN 1830-3668
  doi:10.3000/18303668.C_2010.266.ron |
| --- | --- |
| Jurnalul Oficial
  al Uniunii Europene | C 266 |
| | |
| Ediţia în limba română | Comunicări şi informări | Anul 531 octombrie 2010 |

ISSN 1830-3668

doi:10.3000/18303668.C_2010.266.ron

Jurnalul Oficial

al Uniunii Europene

C 266

Ediţia în limba română

Comunicări şi informări

Anul 531 octombrie 2010

---

| Informarea nr. | Cuprins | Pagina |
| --- | --- | --- |
| | II   Comunicări |
| | COMUNICĂRI PROVENIND DE LA INSTITUȚIILE, ORGANELE ȘI ORGANISMELE UNIUNII EUROPENE |
| | Comisia Europeană |
| 2010/C 266/01 | Autorizație pentru ajutoarele de stat acordate în conformitate cu dispozițiile articolelor 87 și 88 din Tratatul CE – Cazuri în care Comisia nu ridică obiecții (
  1
  ) | 1 |
| 2010/C 266/02 | Non-opoziție la o concentrare notificată (Cazul COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  ) | 2 |

Informarea nr.

Cuprins

Pagina

II   Comunicări

COMUNICĂRI PROVENIND DE LA INSTITUȚIILE, ORGANELE ȘI ORGANISMELE UNIUNII EUROPENE

Comisia Europeană

2010/C 266/01

Autorizație pentru ajutoarele de stat acordate în conformitate cu dispozițiile articolelor 87 și 88 din Tratatul CE – Cazuri în care Comisia nu ridică obiecții (
  1
  )

1

1

2010/C 266/02

Non-opoziție la o concentrare notificată (Cazul COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  )

1

2

| | IV   Informări |
| --- | --- |
| | INFORMĂRI PROVENIND DE LA INSTITUȚIILE, ORGANELE ȘI ORGANISMELE UNIUNII EUROPENE |
| | Comisia Europeană |
| 2010/C 266/03 | Rata de schimb a monedei euro | 3 |

IV   Informări

INFORMĂRI PROVENIND DE LA INSTITUȚIILE, ORGANELE ȘI ORGANISMELE UNIUNII EUROPENE

Comisia Europeană

2010/C 266/03

Rata de schimb a monedei euro

3

| | V   Anunțuri |
| --- | --- |
| | PROCEDURI REFERITOARE LA PUNEREA ÎN APLICARE A POLITICII COMERCIALE COMUNE |
| | Comisia Europeană |
| 2010/C 266/04 | Aviz privind măsurile antidumping în vigoare referitoare la importurile în Uniune de anumite tipuri de polietilen tereftalat originar, inter alia, din Malaysia: schimbarea numelui unei societăți supuse unei taxe antidumping individuale | 4 |
| | PROCEDURI REFERITOARE LA PUNEREA ÎN APLICARE A POLITICII ÎN DOMENIUL CONCURENȚEI |
| | Comisia Europeană |
| 2010/C 266/05 | Ajutor de stat – Austria – Ajutor de stat C 16/09 – Hypo Group Alpe Adria (HGAA) – Invitație de a prezenta observații în temeiul articolului 108 alineatul (2) din TFUE (
  1
  ) | 5 |
| 2010/C 266/06 | Notificare prealabilă a unei concentrări (Cazul COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  ) | 11 |
| 2010/C 266/07 | Notificare prealabilă a unei concentrări (Cazul COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Caz care poate face obiectul procedurii simplificate (
  1
  ) | 12 |

V   Anunțuri

PROCEDURI REFERITOARE LA PUNEREA ÎN APLICARE A POLITICII COMERCIALE COMUNE

Comisia Europeană

2010/C 266/04

Aviz privind măsurile antidumping în vigoare referitoare la importurile în Uniune de anumite tipuri de polietilen tereftalat originar, inter alia, din Malaysia: schimbarea numelui unei societăți supuse unei taxe antidumping individuale

4

PROCEDURI REFERITOARE LA PUNEREA ÎN APLICARE A POLITICII ÎN DOMENIUL CONCURENȚEI

Comisia Europeană

2010/C 266/05

Ajutor de stat – Austria – Ajutor de stat C 16/09 – Hypo Group Alpe Adria (HGAA) – Invitație de a prezenta observații în temeiul articolului 108 alineatul (2) din TFUE (
  1
  )

1

5

2010/C 266/06

Notificare prealabilă a unei concentrări (Cazul COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  )

1

11

2010/C 266/07

Notificare prealabilă a unei concentrări (Cazul COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Caz care poate face obiectul procedurii simplificate (
  1
  )

1

12

| | |
| --- | --- |
| | (1)   Text cu relevanță pentru SEE |

---

(1)   Text cu relevanță pentru SEE

1

| RO | |
| --- | --- |

RO

---

II Comunicări

COMUNICĂRI PROVENIND DE LA INSTITUȚIILE, ORGANELE ȘI ORGANISMELE UNIUNII EUROPENE

Comisia Europeană

| 1.10.2010 | RO | Jurnalul Oficial al Uniunii Europene | C 266/1 |
| --- | --- | --- | --- |

1.10.2010

RO

Jurnalul Oficial al Uniunii Europene

C 266/1

---

Autorizație pentru ajutoarele de stat acordate în conformitate cu dispozițiile articolelor 87 și 88 din Tratatul CE

Cazuri în care Comisia nu ridică obiecții

(Text cu relevanță pentru SEE)

2010/C 266/01

| Data adoptării deciziei | 23.2.2009 |
| --- | --- |
| Numărul de referință al ajutorului | N 727/07 |
| Stat membru | Italia |
| Regiune | Veneto |
| Titlu (și/sau numele beneficiarului) | Istituzione del «Fondo di rotazione per le agrienergie» |
| Temei legal | Legge regionale 12 dicembre 2003 n. 40 «Nuove norme per gli interventi in agricoltura» articolo 58 ter |
| Tipul măsurii | Regim de ajutoare |
| Obiectiv | Protecția mediului |
| Forma de ajutor | Bonificație de dobândă |
| Buget | Buget global: 30 de milioane de EUR |
| Valoare | 80 % |
| Durată (perioadă) | Până la 31.12.2010 |
| Sectoare economice | Furnizarea de energie electrică, gaz și apă |
| Numele și adresa autorității de acordare a ajutorului | Giunta Regionale Regione Veneto |
| Palazzo Balbi |
| 3013 Venezia VE |
| ITALIA |

Data adoptării deciziei

23.2.2009

Numărul de referință al ajutorului

N 727/07

Stat membru

Italia

Regiune

Veneto

Titlu (și/sau numele beneficiarului)

Istituzione del «Fondo di rotazione per le agrienergie»

Temei legal

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

Tipul măsurii

Regim de ajutoare

Obiectiv

Protecția mediului

Forma de ajutor

Bonificație de dobândă

Buget

Buget global: 30 de milioane de EUR

Valoare

80 %

Durată (perioadă)

Până la 31.12.2010

Sectoare economice

Furnizarea de energie electrică, gaz și apă

Numele și adresa autorității de acordare a ajutorului

Giunta Regionale Regione Veneto

Palazzo Balbi

3013 Venezia VE

ITALIA

Alte informații

—

Textul deciziei în limba (limbile) originală (originale), din care au fost înlăturate toate informațiile confidențiale, poate fi consultat pe site-ul:

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

---

| 1.10.2010 | RO | Jurnalul Oficial al Uniunii Europene | C 266/2 |
| --- | --- | --- | --- |

1.10.2010

RO

Jurnalul Oficial al Uniunii Europene

C 266/2

---

Non-opoziție la o concentrare notificată

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

(Text cu relevanță pentru SEE)

2010/C 266/02

La data de 12 august 2010, Comisia a decis să nu se opună concentrării notificate menționate mai sus și să o declare compatibilă cu piața comună. Prezenta decizie se bazează pe articolul 6 alineatul (1) litera (b) din Regulamentul (CE) nr. 139/2004 al Consiliului. Textul integral al deciziei este disponibil doar în limba franceză și va fi făcut public după ce vor fi eliminate orice secrete de afaceri pe care le-ar putea conține. Va fi disponibil:

| — | pe site-ul internet al Direcției Generale Concurență din cadrul Comisiei, la secțiunea consacrată concentrărilor (http://ec.europa.eu/competition/mergers/cases/). Acest site internet oferă diverse facilități care permit identificarea deciziilor de concentrare individuale, inclusiv întreprinderea, numărul cazului, data și indexurile sectoriale; |
| --- | --- |

—

pe site-ul internet al Direcției Generale Concurență din cadrul Comisiei, la secțiunea consacrată concentrărilor (http://ec.europa.eu/competition/mergers/cases/). Acest site internet oferă diverse facilități care permit identificarea deciziilor de concentrare individuale, inclusiv întreprinderea, numărul cazului, data și indexurile sectoriale;

| — | în format electronic, pe site-ul internet EUR-Lex (http://eur-lex.europa.eu/en/index.htm) cu numărul de document 32010M5741. EUR-Lex permite accesul on-line la legislația europeană. |
| --- | --- |

—

în format electronic, pe site-ul internet EUR-Lex (http://eur-lex.europa.eu/en/index.htm) cu numărul de document 32010M5741. EUR-Lex permite accesul on-line la legislația europeană.

---

IV Informări

INFORMĂRI PROVENIND DE LA INSTITUȚIILE, ORGANELE ȘI ORGANISMELE UNIUNII EUROPENE

Comisia Europeană

| 1.10.2010 | RO | Jurnalul Oficial al Uniunii Europene | C 266/3 |
| --- | --- | --- | --- |

1.10.2010

RO

Jurnalul Oficial al Uniunii Europene

C 266/3

---

Rata de schimb a monedei euro (1)

30 septembrie 2010

2010/C 266/03

1 euro =

| | Moneda | Rata de schimb |
| --- | --- | --- |
| USD | dolar american | 1,3648 |
| JPY | yen japonez | 113,68 |
| DKK | coroana daneză | 7,4519 |
| GBP | lira sterlină | 0,85995 |
| SEK | coroana suedeză | 9,1421 |
| CHF | franc elvețian | 1,3287 |
| ISK | coroana islandeză | |
| NOK | coroana norvegiană | 7,9680 |
| BGN | leva bulgărească | 1,9558 |
| CZK | coroana cehă | 24,600 |
| EEK | coroana estoniană | 15,6466 |
| HUF | forint maghiar | 275,75 |
| LTL | litas lituanian | 3,4528 |
| LVL | lats leton | 0,7094 |
| PLN | zlot polonez | 3,9847 |
| RON | leu românesc nou | 4,2718 |
| TRY | lira turcească | 1,9806 |
| AUD | dolar australian | 1,4070 |
| CAD | dolar canadian | 1,4073 |
| HKD | dolar Hong Kong | 10,5918 |
| NZD | dolar neozeelandez | 1,8436 |
| SGD | dolar Singapore | 1,7942 |
| KRW | won sud-coreean | 1 550,65 |
| ZAR | rand sud-african | 9,5438 |
| CNY | yuan renminbi chinezesc | 9,1321 |
| HRK | kuna croată | 7,3058 |
| IDR | rupia indoneziană | 12 173,44 |
| MYR | ringgit Malaiezia | 4,2101 |
| PHP | peso Filipine | 59,869 |
| RUB | rubla rusească | 41,6923 |
| THB | baht thailandez | 41,442 |
| BRL | real brazilian | 2,3201 |
| MXN | peso mexican | 17,1258 |
| INR | rupie indiană | 61,2470 |

Moneda

Rata de schimb

USD

dolar american

1,3648

JPY

yen japonez

113,68

DKK

coroana daneză

7,4519

GBP

lira sterlină

0,85995

SEK

coroana suedeză

9,1421

CHF

franc elvețian

1,3287

ISK

coroana islandeză

NOK

coroana norvegiană

7,9680

BGN

leva bulgărească

1,9558

CZK

coroana cehă

24,600

EEK

coroana estoniană

15,6466

HUF

forint maghiar

275,75

LTL

litas lituanian

3,4528

LVL

lats leton

0,7094

PLN

zlot polonez

3,9847

RON

leu românesc nou

4,2718

TRY

lira turcească

1,9806

AUD

dolar australian

1,4070

CAD

dolar canadian

1,4073

HKD

dolar Hong Kong

10,5918

NZD

dolar neozeelandez

1,8436

SGD

dolar Singapore

1,7942

KRW

won sud-coreean

1 550,65

ZAR

rand sud-african

9,5438

CNY

yuan renminbi chinezesc

9,1321

HRK

kuna croată

7,3058

IDR

rupia indoneziană

12 173,44

MYR

ringgit Malaiezia

4,2101

PHP

peso Filipine

59,869

RUB

rubla rusească

41,6923

THB

baht thailandez

41,442

BRL

real brazilian

2,3201

MXN

peso mexican

17,1258

INR

rupie indiană

61,2470

---

(1)  Sursă: rata de schimb de referință publicată de către Banca Centrală Europeană.

---

V Anunțuri

PROCEDURI REFERITOARE LA PUNEREA ÎN APLICARE A POLITICII COMERCIALE COMUNE

Comisia Europeană

| 1.10.2010 | RO | Jurnalul Oficial al Uniunii Europene | C 266/4 |
| --- | --- | --- | --- |

1.10.2010

RO

Jurnalul Oficial al Uniunii Europene

C 266/4

---

Aviz privind măsurile antidumping în vigoare referitoare la importurile în Uniune de anumite tipuri de polietilen tereftalat originar, inter alia, din Malaysia: schimbarea numelui unei societăți supuse unei taxe antidumping individuale

2010/C 266/04

Importurile de anumite tipuri de polietilen tereftalat originar din Malaysia sunt supuse unei taxe antidumping definitive instituite prin Regulamentul (CE) nr. 192/2007 al Consiliului (1), [denumit în continuare „Regulamentul (CE) nr. 192/2007”].

Hualon Corporation (M) Sdn. Bhd. (denumită în continuare „Hualon”), o societate situată în Malaysia, ale cărei exporturi de anumite tipuri de polietilen tereftalat către Uniune sunt supuse unei taxe antidumping individuale de 36,0 EUR/tonă, instituită prin articolul 1 alineatul (2) din Regulamentul (CE) nr. 192/2007, a informat Comisia că, după începerea procedurii de lichidare, la 23 iulie 2008 toate activele și pasivele sale din Malaysia au fost preluate de Recron (Malaysia) Sdn. Bhd. (denumită în continuare „Recron”), care a devenit succesorul legal.

Hualon susține că preluarea și schimbarea numelui nu afectează activitățile societății în ceea ce privește produsul în cauză și, prin urmare, societatea Recron are dreptul de a beneficia de taxa antidumping individuală aplicată societății Hualon prin Regulamentul (CE) nr. 192/2007.

Comisia a examinat informațiile furnizate și, având în vedere că societatea care solicită schimbarea numelui a fost preluată de o societate care nu a mai produs anterior produsul în cauză, a concluzionat că schimbarea numelui nu afectează în niciun fel constatările Regulamentului (CE) nr. 192/2007. Prin urmare, referința din articolul 1 alineatul (2) din Regulamentul (CE) nr. 192/2007 la:

Hualon Corp. (M) Sdn. Bhd.

se citește ca referință la:

Recron (Malaysia) Sdn. Bhd.

Codul TARIC adițional A186 atribuit anterior societății Hualon Corp. (M) Sdn. Bhd. se aplică societății Recron (Malaysia) Sdn. Bhd.

---

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

---

PROCEDURI REFERITOARE LA PUNEREA ÎN APLICARE A POLITICII ÎN DOMENIUL CONCURENȚEI

Comisia Europeană

| 1.10.2010 | RO | Jurnalul Oficial al Uniunii Europene | C 266/5 |
| --- | --- | --- | --- |

1.10.2010

RO

Jurnalul Oficial al Uniunii Europene

C 266/5

---

AJUTOR DE STAT – AUSTRIA

Ajutor de stat C 16/09 – Hypo Group Alpe Adria (HGAA)

Invitație de a prezenta observații în temeiul articolului 108 alineatul (2) din TFUE

(Text cu relevanță pentru SEE)

2010/C 266/05

Prin scrisoarea din data de 22 iunie 2010 reprodusă în versiunea lingvistică autentică în paginile care urmează acestui rezumat, Comisia a notificat Austriei decizia de prelungire a autorizării ajutorului considerat temporar compatibil cu piața internă și de a extinde în continuare procedura conform dispozițiilor de la articolul 108 alineatul (2) din Tratatul privind funcționarea Uniunii Europene.

Părțile interesate își pot prezenta observațiile privind măsurile pentru care Comisia extinde procedura, în termen de două săptămâni de la data publicării prezentului rezumat și a scrisorii de mai jos, la adresa:

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

European Commission

Directorate-General for Competition

State aid Greffe

Office: J-70, 03/219

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

Fax +32 22961242

Aceste observații vor fi comunicate Austriei. Păstrarea confidențialității privind identitatea părții interesate care prezintă observațiile poate fi solicitată în scris, precizându-se motivele care stau la baza solicitării.

1.   PROCEDURĂ

Prin decizia din 18 decembrie 2008, Comisia Europeană a aprobat în cazul N 615/08 un ajutor de stat de urgență din partea Germaniei către BayernLB, proprietarul majoritar al HGAA, sub forma unei protecții împotriva riscului în valoare de 4,8 miliarde EUR și a unei infuzii de capital de 10 miliarde EUR în baza articolului 107 alineatul (3) litera (b) din TFUE pentru o perioadă de șase luni sau până la data prezentării unui plan de restructurare al băncii credibil și întemeiat. Acest ajutor a permis BayernLB să realizeze o infuzie de 700 de milioane EUR în filiala sa, HGAA. În aceeași lună, Austria a acordat o infuzie de capital pentru HGAA în valoare de 900 de milioane EUR în cadrul schemei bancare austriece.

La data de 29 aprilie 2009, Germania a notificat Comisiei un plan de restructurare privind BayernLB, care include HGAA. La aceeași dată, Austria a furnizat un plan de viabilitate pentru HGAA, care este necesar pentru băncile în esență solide în cadrul schemei bancare austriece.

În decizia din 12 mai 2009 în cazul N 254/09 („decizia de inițiere”), Comisia a exprimat îndoieli cu privire la compatibilitatea cu piața internă a ajutorului acordat BayernLB, a pus sub semnul întrebării dacă HGAA era în esență solidă și a exprimat îndoieli cu privire la compatibilitatea cu articolul 107 alineatul (3) litera (b) din TFUE a ajutorului acordat HGAA de către Austria.

Austria a notificat la 18 decembrie 2009 măsuri suplimentare de ajutor.

În decizia din 23 decembrie 2009 în cazul C 16/09 și N 698/09, Comisia a considerat că măsurile în favoarea HGAA, descrise la punctul 2 sunt compatibile temporar cu piața internă în baza articolului 107 alineatul (3) litera (b) din TFUE, până la prezentarea unui plan de restructurare credibil și până în momentul evaluării planului de către Comisie, însă cel mult pentru o perioadă de șase luni. În același timp, procedura descrisă la articolul 108 alineatul (2) din TFUE a fost extinsă în ceea ce privește aceste măsuri suplimentare.

În aprilie 2010, Austria a prezentat un plan de restructurare pentru HGAA.

Având în vedere evaluarea în curs a planului de restructurare și a ajutorului de către Comisie, Austria a solicitat prelungirea aprobării temporare a măsurilor.

2.   MĂSURILE PREVĂZUTE PENTRU HGAA

HGAA a primit 700 de milioane EUR din partea BayernLB și 900 de milioane EUR pentru capitalul de rang 1 Partizipationskapital din partea Republicii Austria, precum și garanții de lichiditate în valoare de 1,35 miliarde EUR pentru emisiuni de obligațiuni în baza schemei austriece de urgență pentru sprijinirea băncilor.

Mai mult, HGAA a beneficiat de următoarele măsuri de ajutor, autorizate temporar prin decizia din decembrie 2009:

| — | o garanție temporară în valoare de 100 de milioane EUR din partea Austriei în temeiul condițiilor pentru băncile aflate în dificultate în cadrul schemei austriece de urgență pentru sprijinirea băncilor; |
| --- | --- |

—

o garanție temporară în valoare de 100 de milioane EUR din partea Austriei în temeiul condițiilor pentru băncile aflate în dificultate în cadrul schemei austriece de urgență pentru sprijinirea băncilor;

| — | o recapitalizare în valoare de 200 de milioane EUR din partea Land Carinthia, cu un dividend de 6 % care va fi scadent cu începere din anul comercial 2013; |
| --- | --- |

—

o recapitalizare în valoare de 200 de milioane EUR din partea Land Carinthia, cu un dividend de 6 % care va fi scadent cu începere din anul comercial 2013;

| — | o altă recapitalizare din partea Austriei în temeiul condițiilor pentru băncile aflate în dificultate în cadrul schemei austriece de urgență pentru sprijinirea băncilor pentru o sumă maximă de 350 de milioane EUR; |
| --- | --- |

—

o altă recapitalizare din partea Austriei în temeiul condițiilor pentru băncile aflate în dificultate în cadrul schemei austriece de urgență pentru sprijinirea băncilor pentru o sumă maximă de 350 de milioane EUR;

| — | măsuri legate de lichiditate în valoare de aproximativ 200 de milioane EUR acordate de Land Carinthia în contextul relațiilor de afaceri existente. |
| --- | --- |

—

măsuri legate de lichiditate în valoare de aproximativ 200 de milioane EUR acordate de Land Carinthia în contextul relațiilor de afaceri existente.

3.   EVALUARE

În deciziile din 12 mai 2009 și 23 decembrie 2009, Comisia a stabilit deja că măsurile acordate HGAA constituie ajutor de stat.

Îndoielile inițiale privind compatibilitatea măsurilor de ajutor exprimate în cele două decizii anterioare nu au fost înlăturate prin prezentarea planului de restructurare.

În ceea ce privește restabilirea viabilității, Comisia are îndoieli că modelul comercial general al băncii este apt pentru restabilirea viabilității.

Mai mult, date fiind cotația slabă a HGAA și estimările ridicate privind costurile de finanțare, avându-se în vedere expirarea garanțiilor din partea Land Carinthia și a sprijinului pentru finanțare din partea fostului proprietar BayernLB, Comisia își pune întrebarea dacă HGAA nu va trebui să își reorienteze modelul comercial în profunzime, ceea ce ar afecta în special serviciile sale pentru sectorul public, care sunt caracterizate prin marje reduse.

Mai mult, Comisia consideră că HGAA trebuie să facă față unor probleme importante legate de calitatea activelor, date fiind calitatea slabă și în continuă deteriorare a portofoliului de credite și îndoielile privind remedierea în timp util a problemelor de bază în ceea ce privește procesul decizional și procesul de gestionare a riscurilor.

De asemenea, Comisia se îndoiește că banca va fi în măsură să își remunereze capitalul propriu astfel cum se prezintă în comunicarea privind restructurarea, ceea ce presupune o rentabilitate adecvată a capitalului în conformitate cu profilul de risc al băncii, și că banca poate să asigure o remunerare adecvată având în vedere condițiile de piață obișnuite sau să ramburseze, în timp, statului, capitalul furnizat.

Mai mult, Comisia pune sub semnul întrebării remunerarea adecvată a infuziei de capital realizată de Austria în favoarea HGAA în cadrul schemei bancare austriece întrucât banca a fost considerată ca fiind în esență solidă de către Austria în momentul realizării infuziei de capital în decembrie 2008 și, prin urmare, a beneficiat de rate mai mici. Comisia reamintește faptul că a pus sub semnul întrebării, în decizia din mai 2009, evaluarea Austriei potrivit căreia banca este în esență solidă.

În ceea ce privește măsurile pentru soluționarea denaturărilor de concurență, Comisia reamintește îndoielile cu privire la faptul că măsurile propuse sunt suficiente pentru a limita în mod adecvat denaturările create de ajutor. În special, majoritatea activităților pe care HGAA intenționează să le cesioneze par a se concentra pe activitățile care înregistrează pierderi și sunt așadar necesare pentru a restabili viabilitatea. Cu alte cuvinte, Comisia se întreabă dacă nu sunt necesare mai multe măsuri pentru abordarea denaturărilor de concurență cauzate de ajutor.

TEXTUL SCRISORII

„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). |
| --- | --- |

(1)

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

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

(2)

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

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

(3)

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

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

(4)

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

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

(5)

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

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

(6)

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

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

(7)

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

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

(8)

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

2.   DESCRIPTION

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

(9)

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

2.1.   The beneficiary

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

(10)

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

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

(11)

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

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

(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. |
| --- | --- |

(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). |
| --- | --- |

(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. |
| --- | --- |

(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. |
| --- | --- |

(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. |
| --- | --- |

(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. |
| --- | --- |

(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, |
| --- | --- | --- |

(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, |
| --- | --- |

—

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, |
| --- | --- |

—

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

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

—

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

3.   THE RESTRUCTURING PLAN

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

(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. |
| --- | --- |

(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. |
| --- | --- |

(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. |
| --- | --- |

(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. |
| --- | --- |

(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. |
| --- | --- |

(25)

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

4.   ASSESSMENT OF THE AID

4.1.   Existence of aid

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

(26)

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

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

(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). |
| --- | --- |

(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. |
| --- | --- |

(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. |
| --- | --- |

(30)

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

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

(31)

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

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

(32)

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

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

(33)

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

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

(34)

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

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

(35)

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

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

(36)

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

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

(37)

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

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

(38)

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

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

(39)

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

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

(40)

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

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

(41)

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

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

(42)

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

5.   CONCLUSION

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

(43)

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

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

(44)

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

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

(45)

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

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

(46)

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

6.   DECISION

In view of the above, the Commission has decided:

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

—

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

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

—

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

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

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

---

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

1

BayernLB

(2)  Partizipationskapital has no voting rights.

2

Partizipationskapital

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

3

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

4

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

5

(6)  Confidential information.

6

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

7

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

8

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

9

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

10

Hypo RealEstate

ING

---

| 1.10.2010 | RO | Jurnalul Oficial al Uniunii Europene | C 266/11 |
| --- | --- | --- | --- |

1.10.2010

RO

Jurnalul Oficial al Uniunii Europene

C 266/11

---

Notificare prealabilă a unei concentrări

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

(Text cu relevanță pentru SEE)

2010/C 266/06

| 1. | La data de 23 septembrie 2010, Comisia a primit o notificare a unei concentrări propuse în temeiul articolului 4 din Regulamentul (CE) nr. 139/2004 al Consiliului (1) prin care întreprinderile Finavias S.à r.l („Finavias”, Luxemburg), controlată de AXA Investment Managers Private Equity SA („AXA Private Equity”, Franța), care aparține, la rândul său, grupului AXA („AXA”, Franța), și Iberpistas, controlată de Abertis Infraestructuras, SA („Abertis”, Spania) dobândesc, în sensul articolului 3 alineatul (1) litera (b) din Regulamentul privind concentrările economice, controlul în comun asupra întreprinderii Autopista Trados M-45 („Trados M-45”, Spania), prin achiziționare de acțiuni. |
| --- | --- |

1.

La data de 23 septembrie 2010, Comisia a primit o notificare a unei concentrări propuse în temeiul articolului 4 din Regulamentul (CE) nr. 139/2004 al Consiliului (1) prin care întreprinderile Finavias S.à r.l („Finavias”, Luxemburg), controlată de AXA Investment Managers Private Equity SA („AXA Private Equity”, Franța), care aparține, la rândul său, grupului AXA („AXA”, Franța), și Iberpistas, controlată de Abertis Infraestructuras, SA („Abertis”, Spania) dobândesc, în sensul articolului 3 alineatul (1) litera (b) din Regulamentul privind concentrările economice, controlul în comun asupra întreprinderii Autopista Trados M-45 („Trados M-45”, Spania), prin achiziționare de acțiuni.

| 2. | Activitățile economice ale întreprinderilor respective sunt:






  — | în cazul întreprinderii Finavias: activități de gestionare a capitalului privat și a activelor; |
| --- | --- | --- |

2.

Activitățile economice ale întreprinderilor respective sunt:

—

în cazul întreprinderii Finavias: activități de gestionare a capitalului privat și a activelor;

| — | în cazul întreprinderii AXA Private Equity: activități de gestionare a activelor, investiții în societăți necotate sau în fonduri de investiții. Această întreprindere aparține grupului internațional AXA, care oferă asigurări de viață și asigurări generale, precum și servicii financiare conexe; |
| --- | --- |

—

în cazul întreprinderii AXA Private Equity: activități de gestionare a activelor, investiții în societăți necotate sau în fonduri de investiții. Această întreprindere aparține grupului internațional AXA, care oferă asigurări de viață și asigurări generale, precum și servicii financiare conexe;

| — | în cazul întreprinderii Abertis: infrastructuri pentru mobilitate și telecomunicații pentru domenii de activitate specifice: drumurile cu taxă, infrastructura de telecomunicații, aeroporturi, spații de parcare și logistică; |
| --- | --- |

—

în cazul întreprinderii Abertis: infrastructuri pentru mobilitate și telecomunicații pentru domenii de activitate specifice: drumurile cu taxă, infrastructura de telecomunicații, aeroporturi, spații de parcare și logistică;

| — | în cazul întreprinderii Trados M-45: gestionarea concesionării drumurilor. |
| --- | --- |

—

în cazul întreprinderii Trados M-45: gestionarea concesionării drumurilor.

| 3. | În urma unei examinări prealabile, Comisia constată că tranzacția notificată ar putea intra sub incidența Regulamentului (CE) privind concentrările economice. Cu toate acestea nu se ia o decizie finală în această privință. |
| --- | --- |

3.

În urma unei examinări prealabile, Comisia constată că tranzacția notificată ar putea intra sub incidența Regulamentului (CE) privind concentrările economice. Cu toate acestea nu se ia o decizie finală în această privință.

| 4. | Comisia invită părțile terțe interesate să îi prezinte eventualele observații cu privire la operațiunea propusă.
  Observațiile trebuie primite de către Comisie în termen de cel mult 10 zile de la data publicării prezentei. Observațiile pot fi trimise Comisiei prin fax (+32 22964301), prin e-mail la adresa COMP-MERGER-REGISTRY@ec.europa.eu sau prin poștă, cu numărul de referință COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45, la următoarea adresă:





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

4.

Comisia invită părțile terțe interesate să îi prezinte eventualele observații cu privire la operațiunea propusă.

Observațiile trebuie primite de către Comisie în termen de cel mult 10 zile de la data publicării prezentei. Observațiile pot fi trimise Comisiei prin fax (+32 22964301), prin e-mail la adresa COMP-MERGER-REGISTRY@ec.europa.eu sau prin poștă, cu numărul de referință COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45, la următoarea adresă:

European Commission

Directorate-General for Competition

Merger Registry

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  JO L 24, 29.1.2004, p. 1 [„Regulamentul (CE) privind concentrările economice”].

---

| 1.10.2010 | RO | Jurnalul Oficial al Uniunii Europene | C 266/12 |
| --- | --- | --- | --- |

1.10.2010

RO

Jurnalul Oficial al Uniunii Europene

C 266/12

---

Notificare prealabilă a unei concentrări

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

Caz care poate face obiectul procedurii simplificate

(Text cu relevanță pentru SEE)

2010/C 266/07

| 1. | La data de 22 septembrie 2010, Comisia a primit o notificare a unei concentrări propuse în temeiul articolului 4 din Regulamentul (CE) nr. 139/2004 al Consiliului (1), prin care întreprinderea Apotheek DocMorris N.V. (Țările de Jos), controlată de grupul Haniel, și întreprinderea K-mail Order GmbH & Co KG (Germania) dobândesc, în sensul articolului 3 alineatul (1) litera (b) din Regulamentul privind concentrările economice, controlul asupra întreprinderii Wellsana B.V. (Țările de Jos) prin achiziționare de acțiuni într-o întreprindere nou creată, care constituie o întreprindere comună. |
| --- | --- |

1.

La data de 22 septembrie 2010, Comisia a primit o notificare a unei concentrări propuse în temeiul articolului 4 din Regulamentul (CE) nr. 139/2004 al Consiliului (1), prin care întreprinderea Apotheek DocMorris N.V. (Țările de Jos), controlată de grupul Haniel, și întreprinderea K-mail Order GmbH & Co KG (Germania) dobândesc, în sensul articolului 3 alineatul (1) litera (b) din Regulamentul privind concentrările economice, controlul asupra întreprinderii Wellsana B.V. (Țările de Jos) prin achiziționare de acțiuni într-o întreprindere nou creată, care constituie o întreprindere comună.

| 2. | Activitățile economice ale întreprinderilor respective sunt:






  — | în cazul întreprinderii Apotheek DocMorris N.V.: comerț cu amănuntul de produse farmaceutice, prin intermediul unei farmacii; |
| --- | --- | --- |

2.

Activitățile economice ale întreprinderilor respective sunt:

—

în cazul întreprinderii Apotheek DocMorris N.V.: comerț cu amănuntul de produse farmaceutice, prin intermediul unei farmacii;

| — | în cazul întreprinderii K mail Order GmbH & Co KG: comerț cu amănuntul de articole de modă, de bijuterii, bunuri de uz casnic și produse medicale. |
| --- | --- |

—

în cazul întreprinderii K mail Order GmbH & Co KG: comerț cu amănuntul de articole de modă, de bijuterii, bunuri de uz casnic și produse medicale.

| 3. | În urma unei examinări prealabile, Comisia constată că tranzacția notificată ar putea intra sub incidența Regulamentului (CE) privind concentrările economice. Cu toate acestea, nu se ia o decizie finală în această privință. În conformitate cu Comunicarea Comisiei privind o procedură simplificată de tratare a anumitor concentrări în temeiul Regulamentului (CE) privind concentrările economice (2), trebuie precizat că acest caz poate fi tratat conform procedurii prevăzute în Comunicare. |
| --- | --- |

3.

În urma unei examinări prealabile, Comisia constată că tranzacția notificată ar putea intra sub incidența Regulamentului (CE) privind concentrările economice. Cu toate acestea, nu se ia o decizie finală în această privință. În conformitate cu Comunicarea Comisiei privind o procedură simplificată de tratare a anumitor concentrări în temeiul Regulamentului (CE) privind concentrările economice (2), trebuie precizat că acest caz poate fi tratat conform procedurii prevăzute în Comunicare.

| 4. | Comisia invită părțile terțe interesate să îi prezinte eventualele observații cu privire la operațiunea propusă.
  Observațiile trebuie primite de către Comisie în termen de cel mult 10 zile de la data publicării prezentei. Observațiile pot fi trimise Comisiei prin fax (+32 22964301), prin e-mail la adresa COMP-MERGER-REGISTRY@ec.europa.eu sau prin poștă, cu numărul de referință COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV, la următoarea adresă:





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

4.

Comisia invită părțile terțe interesate să îi prezinte eventualele observații cu privire la operațiunea propusă.

Observațiile trebuie primite de către Comisie în termen de cel mult 10 zile de la data publicării prezentei. Observațiile pot fi trimise Comisiei prin fax (+32 22964301), prin e-mail la adresa COMP-MERGER-REGISTRY@ec.europa.eu sau prin poștă, cu numărul de referință COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV, la următoarea adresă:

European Commission

Directorate-General for Competition

Merger Registry

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  JO L 24, 29.1.2004, p. 1 [„Regulamentul (CE) privind concentrările economice”].

(2)  JO C 56, 5.3.2005, p. 32 („Comunicarea privind o procedură simplificată”).

---