# Úradný vestník C 266/2010

| | ISSN 1725-5236
  doi:10.3000/17255236.C_2010.266.slk |
| --- | --- |
| Úradný vestník
  Európskej únie | C 266 |
| | |
| Slovenské vydanie | Informácie a oznámenia | Zväzok 531. októbra 2010 |

ISSN 1725-5236

doi:10.3000/17255236.C_2010.266.slk

Úradný vestník

Európskej únie

C 266

Slovenské vydanie

Informácie a oznámenia

Zväzok 531. októbra 2010

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| Číslo oznamu | Obsah | Strana |
| --- | --- | --- |
| | II   Oznámenia |
| | OZNÁMENIA INŠTITÚCIÍ, ORGÁNOV, ÚRADOV A AGENTÚR EURÓPSKEJ ÚNIE |
| | Európska komisia |
| 2010/C 266/01 | Povolenie štátnej pomoci v rámci ustanovení článkov 87 a 88 Zmluvy o ES – Prípady, ku ktorým nemá Komisia námietky (
  1
  ) | 1 |
| 2010/C 266/02 | Nevznesenie námietky voči oznámenej koncentrácii (Vec COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  ) | 2 |

Číslo oznamu

Obsah

Strana

II   Oznámenia

OZNÁMENIA INŠTITÚCIÍ, ORGÁNOV, ÚRADOV A AGENTÚR EURÓPSKEJ ÚNIE

Európska komisia

2010/C 266/01

Povolenie štátnej pomoci v rámci ustanovení článkov 87 a 88 Zmluvy o ES – Prípady, ku ktorým nemá Komisia námietky (
  1
  )

1

1

2010/C 266/02

Nevznesenie námietky voči oznámenej koncentrácii (Vec COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  )

1

2

| | IV   Informácie |
| --- | --- |
| | INFORMÁCIE INŠTITÚCIÍ, ORGÁNOV, ÚRADOV A AGENTÚR EURÓPSKEJ ÚNIE |
| | Európska komisia |
| 2010/C 266/03 | Výmenný kurz eura | 3 |

IV   Informácie

INFORMÁCIE INŠTITÚCIÍ, ORGÁNOV, ÚRADOV A AGENTÚR EURÓPSKEJ ÚNIE

Európska komisia

2010/C 266/03

Výmenný kurz eura

3

| | V   Oznamy |
| --- | --- |
| | KONANIA TÝKAJÚCE SA VYKONÁVANIA SPOLOČNEJ OBCHODNEJ POLITIKY |
| | Európska komisia |
| 2010/C 266/04 | Oznámenie o platných antidumpingových opatreniach v súvislosti s dovozom určitého polyetyléntereftalátu s pôvodom, okrem iného, v Malajzii do Únie: zmena názvu spoločnosti, na ktorú sa vzťahuje individuálna sadzba antidumpingového cla | 4 |
| | KONANIA TÝKAJÚCE SA VYKONÁVANIA POLITIKY HOSPODÁRSKEJ SÚŤAŽE |
| | Európska komisia |
| 2010/C 266/05 | Štátna pomoc – Rakúsko – Štátna pomoc C 16/09 – Hypo Group Alpe Adria (HGAA) – Výzva na predloženie pripomienok v súlade s článkom 108 ods. 2 ZFEÚ (
  1
  ) | 5 |
| 2010/C 266/06 | Predbežné oznámenie o koncentrácii (Vec COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  ) | 11 |
| 2010/C 266/07 | Predbežné oznámenie o koncentrácii (Vec COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Vec, ktorá môže byť posúdená v zjednodušenom konaní (
  1
  ) | 12 |

V   Oznamy

KONANIA TÝKAJÚCE SA VYKONÁVANIA SPOLOČNEJ OBCHODNEJ POLITIKY

Európska komisia

2010/C 266/04

Oznámenie o platných antidumpingových opatreniach v súvislosti s dovozom určitého polyetyléntereftalátu s pôvodom, okrem iného, v Malajzii do Únie: zmena názvu spoločnosti, na ktorú sa vzťahuje individuálna sadzba antidumpingového cla

4

KONANIA TÝKAJÚCE SA VYKONÁVANIA POLITIKY HOSPODÁRSKEJ SÚŤAŽE

Európska komisia

2010/C 266/05

Štátna pomoc – Rakúsko – Štátna pomoc C 16/09 – Hypo Group Alpe Adria (HGAA) – Výzva na predloženie pripomienok v súlade s článkom 108 ods. 2 ZFEÚ (
  1
  )

1

5

2010/C 266/06

Predbežné oznámenie o koncentrácii (Vec COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  )

1

11

2010/C 266/07

Predbežné oznámenie o koncentrácii (Vec COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Vec, ktorá môže byť posúdená v zjednodušenom konaní (
  1
  )

1

12

| | |
| --- | --- |
| | (1)   Text s významom pre EHP |

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(1)   Text s významom pre EHP

1

| SK | |
| --- | --- |

SK

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II Oznámenia

OZNÁMENIA INŠTITÚCIÍ, ORGÁNOV, ÚRADOV A AGENTÚR EURÓPSKEJ ÚNIE

Európska komisia

| 1.10.2010 | SK | Úradný vestník Európskej únie | C 266/1 |
| --- | --- | --- | --- |

1.10.2010

SK

Úradný vestník Európskej únie

C 266/1

---

Povolenie štátnej pomoci v rámci ustanovení článkov 87 a 88 Zmluvy o ES

Prípady, ku ktorým nemá Komisia námietky

(Text s významom pre EHP)

2010/C 266/01

| Dátum prijatia rozhodnutia | 23.2.2009 |
| --- | --- |
| Referenčné číslo štátnej pomoci | N 727/07 |
| Členský štát | Taliansko |
| Región | Veneto |
| Názov (a/alebo názov príjemcu) | Istituzione del «Fondo di rotazione per le agrienergie» |
| Právny základ | Legge regionale 12 dicembre 2003 n. 40 «Nuove norme per gli interventi in agricoltura» articolo 58 ter |
| Druh opatrenia | Schéma pomoci |
| Účel | Ochrana životného prostredia |
| Forma pomoci | Úľava na úrokovej sadzbe |
| Rozpočet | Celková výška plánovanej pomoci: 30 mil. EUR |
| Intenzita | 80 % |
| Trvanie | do 31.12.2010 |
| Sektory hospodárstva | Dodávka elektriny, vody a plynu |
| Názov a adresa orgánu poskytujúceho pomoc | Giunta Regionale Regione Veneto |
| Palazzo Balbi |
| 3013 Venezia VE |
| ITALIA |

Dátum prijatia rozhodnutia

23.2.2009

Referenčné číslo štátnej pomoci

N 727/07

Členský štát

Taliansko

Región

Veneto

Názov (a/alebo názov príjemcu)

Istituzione del «Fondo di rotazione per le agrienergie»

Právny základ

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

Druh opatrenia

Schéma pomoci

Účel

Ochrana životného prostredia

Forma pomoci

Úľava na úrokovej sadzbe

Rozpočet

Celková výška plánovanej pomoci: 30 mil. EUR

Intenzita

80 %

Trvanie

do 31.12.2010

Sektory hospodárstva

Dodávka elektriny, vody a plynu

Názov a adresa orgánu poskytujúceho pomoc

Giunta Regionale Regione Veneto

Palazzo Balbi

3013 Venezia VE

ITALIA

Ďalšie informácie

—

Rozhodnutie v autentickom jazykovom znení, z ktorého boli odstránené všetky informácie, ktoré sú predmetom obchodného tajomstva, je uverejnené na stránke:

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

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| 1.10.2010 | SK | Úradný vestník Európskej únie | C 266/2 |
| --- | --- | --- | --- |

1.10.2010

SK

Úradný vestník Európskej únie

C 266/2

---

Nevznesenie námietky voči oznámenej koncentrácii

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

(Text s významom pre EHP)

2010/C 266/02

Dňa 12. augusta 2010 sa Komisia rozhodla nevzniesť námietku voči uvedenej oznámenej koncentrácii a vyhlásiť ju za zlučiteľnú so spoločným trhom. Toto rozhodnutie je založené na článku 6 ods. 1 písm. b) nariadenia Rady (ES) č. 139/2004. Úplné znenie rozhodnutia je dostupné iba v francúzštine jazyku a bude zverejnené po odstránení akýchkoľvek obchodných tajomstiev. Bude dostupné:

| — | v časti webovej stránky Komisie o hospodárskej súťaži venovanej fúziám (http://ec.europa.eu/competition/mergers/cases/). Táto webová stránka poskytuje rôzne možnosti na vyhľadávanie individuálnych rozhodnutí o fúziách podľa názvu spoločnosti, čísla prípadu, dátumu a sektorových indexov, |
| --- | --- |

—

v časti webovej stránky Komisie o hospodárskej súťaži venovanej fúziám (http://ec.europa.eu/competition/mergers/cases/). Táto webová stránka poskytuje rôzne možnosti na vyhľadávanie individuálnych rozhodnutí o fúziách podľa názvu spoločnosti, čísla prípadu, dátumu a sektorových indexov,

| — | v elektronickej podobe na webovej stránke EUR-Lex (http://eur-lex.europa.eu/en/index.htm) pod číslom dokumentu 32010M5741. EUR-Lex predstavuje online prístup k európskemu právu. |
| --- | --- |

—

v elektronickej podobe na webovej stránke EUR-Lex (http://eur-lex.europa.eu/en/index.htm) pod číslom dokumentu 32010M5741. EUR-Lex predstavuje online prístup k európskemu právu.

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IV Informácie

INFORMÁCIE INŠTITÚCIÍ, ORGÁNOV, ÚRADOV A AGENTÚR EURÓPSKEJ ÚNIE

Európska komisia

| 1.10.2010 | SK | Úradný vestník Európskej únie | C 266/3 |
| --- | --- | --- | --- |

1.10.2010

SK

Úradný vestník Európskej únie

C 266/3

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Výmenný kurz eura (1)

30. septembra 2010

2010/C 266/03

1 euro =

| | Mena | Výmenný kurz |
| --- | --- | --- |
| USD | Americký dolár | 1,3648 |
| JPY | Japonský jen | 113,68 |
| DKK | Dánska koruna | 7,4519 |
| GBP | Britská libra | 0,85995 |
| SEK | Švédska koruna | 9,1421 |
| CHF | Švajčiarsky frank | 1,3287 |
| ISK | Islandská koruna | |
| NOK | Nórska koruna | 7,9680 |
| BGN | Bulharský lev | 1,9558 |
| CZK | Česká koruna | 24,600 |
| EEK | Estónska koruna | 15,6466 |
| HUF | Maďarský forint | 275,75 |
| LTL | Litovský litas | 3,4528 |
| LVL | Lotyšský lats | 0,7094 |
| PLN | Poľský zlotý | 3,9847 |
| RON | Rumunský lei | 4,2718 |
| TRY | Turecká líra | 1,9806 |
| AUD | Austrálsky dolár | 1,4070 |
| CAD | Kanadský dolár | 1,4073 |
| HKD | Hongkongský dolár | 10,5918 |
| NZD | Novozélandský dolár | 1,8436 |
| SGD | Singapurský dolár | 1,7942 |
| KRW | Juhokórejský won | 1 550,65 |
| ZAR | Juhoafrický rand | 9,5438 |
| CNY | Čínsky juan | 9,1321 |
| HRK | Chorvátska kuna | 7,3058 |
| IDR | Indonézska rupia | 12 173,44 |
| MYR | Malajzijský ringgit | 4,2101 |
| PHP | Filipínske peso | 59,869 |
| RUB | Ruský rubeľ | 41,6923 |
| THB | Thajský baht | 41,442 |
| BRL | Brazílsky real | 2,3201 |
| MXN | Mexické peso | 17,1258 |
| INR | Indická rupia | 61,2470 |

Mena

Výmenný kurz

USD

Americký dolár

1,3648

JPY

Japonský jen

113,68

DKK

Dánska koruna

7,4519

GBP

Britská libra

0,85995

SEK

Švédska koruna

9,1421

CHF

Švajčiarsky frank

1,3287

ISK

Islandská koruna

NOK

Nórska koruna

7,9680

BGN

Bulharský lev

1,9558

CZK

Česká koruna

24,600

EEK

Estónska koruna

15,6466

HUF

Maďarský forint

275,75

LTL

Litovský litas

3,4528

LVL

Lotyšský lats

0,7094

PLN

Poľský zlotý

3,9847

RON

Rumunský lei

4,2718

TRY

Turecká líra

1,9806

AUD

Austrálsky dolár

1,4070

CAD

Kanadský dolár

1,4073

HKD

Hongkongský dolár

10,5918

NZD

Novozélandský dolár

1,8436

SGD

Singapurský dolár

1,7942

KRW

Juhokórejský won

1 550,65

ZAR

Juhoafrický rand

9,5438

CNY

Čínsky juan

9,1321

HRK

Chorvátska kuna

7,3058

IDR

Indonézska rupia

12 173,44

MYR

Malajzijský ringgit

4,2101

PHP

Filipínske peso

59,869

RUB

Ruský rubeľ

41,6923

THB

Thajský baht

41,442

BRL

Brazílsky real

2,3201

MXN

Mexické peso

17,1258

INR

Indická rupia

61,2470

---

(1)  Zdroj: referenčný výmenný kurz publikovaný ECB.

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V Oznamy

KONANIA TÝKAJÚCE SA VYKONÁVANIA SPOLOČNEJ OBCHODNEJ POLITIKY

Európska komisia

| 1.10.2010 | SK | Úradný vestník Európskej únie | C 266/4 |
| --- | --- | --- | --- |

1.10.2010

SK

Úradný vestník Európskej únie

C 266/4

---

Oznámenie o platných antidumpingových opatreniach v súvislosti s dovozom určitého polyetyléntereftalátu s pôvodom, okrem iného, v Malajzii do Únie: zmena názvu spoločnosti, na ktorú sa vzťahuje individuálna sadzba antidumpingového cla

2010/C 266/04

Na dovoz určitého polyetyléntereftalátu s pôvodom v Malajzii sa vzťahuje konečné antidumpingové clo uložené nariadením Rady (ES) č. 192/2007 (1), [ďalej len „nariadenie (ES) č. 192/2007“].

Spoločnosť Hualon Corporation (M) Sdn. Bhd. (ďalej len „Hualon“), so sídlom v Malajzii, na ktorej vývoz určitého polyetyléntereftalátu do Únie sa vzťahuje individuálne antidumpingové clo vo výške 36,0 EUR/tonu uložené na základe článku 1 ods. 2 nariadenia (ES) č. 192/2007, oznámila Komisii, že po tom, čo na ňu bola uvalená nútená správa, všetky jej malajzijské aktíva a pasíva prevzala 23. júla 2008 spoločnosť Recron (Malaysia) Sdn. Bhd. (ďalej len „Recron“), ktorá sa stala právnym nástupcom.

Spoločnosť Hualon tvrdila, že prevzatie a zmena názvu nemá vplyv na činnosť spoločnosti, pokiaľ ide o príslušný výrobok, a preto ani na právo spoločnosti Recron využívať individuálnu antidumpingovú colnú sadzbu uplatňovanú na spoločnosť Hualon na základe nariadenia (ES) č. 192/2007.

Komisia preskúmala poskytnuté informácie a vzhľadom na skutočnosť, že spoločnosť požadujúcu zmenu názvu prevzala spoločnosť, ktorá predtým príslušný výrobok nevyrábala, dospela k záveru, že zmena názvu nijako neovplyvňuje závery nariadenia (ES) č. 192/2007. Preto by sa odkaz v článku 1 ods. 2 nariadenia (ES) č. 192/2007 na:

Hualon Corp. (M) Sdn. Bhd.

mal považovať za odkaz na:

Recron (Malaysia) Sdn. Bhd.

Doplnkový kód TARIC A186, ktorý bol pôvodne pridelený spoločnosti Hualon Corp. (M) Sdn. Bhd., sa uplatňuje na spoločnosť Recron (Malaysia) Sdn. Bhd.

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(1)  Ú. v. EÚ L 59, 27.2.2007, s. 1.

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KONANIA TÝKAJÚCE SA VYKONÁVANIA POLITIKY HOSPODÁRSKEJ SÚŤAŽE

Európska komisia

| 1.10.2010 | SK | Úradný vestník Európskej únie | C 266/5 |
| --- | --- | --- | --- |

1.10.2010

SK

Úradný vestník Európskej únie

C 266/5

---

ŠTÁTNA POMOC – RAKÚSKO

Štátna pomoc C 16/09 – Hypo Group Alpe Adria (HGAA)

Výzva na predloženie pripomienok v súlade s článkom 108 ods. 2 ZFEÚ

(Text s významom pre EHP)

2010/C 266/05

Listom z 22. júna 2010, ktorý je uvedený v autentickom jazyku za týmto zhrnutím, Komisia oznámila Rakúsku svoje rozhodnutie predĺžiť schválenie poskytnutia štátnej pomoci dočasne považovanej za zlučiteľnú s vnútorným trhom a ďalej rozšíriť konanie podľa článku 108 ods. 2 Zmluvy o fungovaní Európskej únie.

Zainteresované strany môžu predložiť svoje pripomienky k pomoci, vo veci ktorej Komisia rozširuje konanie, v lehote dvoch týždňov odo dňa uverejnenia tohto zhrnutia a nasledujúceho listu. Kontaktné údaje:

| 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

Tieto pripomienky sa oznámia Rakúsku. Zainteresované strany môžu písomne s uvedením dôvodov požiadať o dôverné zaobchádzanie s údajmi o svojej totožnosti.

1.   POSTUP

Európska komisia rozhodnutím z 18. decembra 2008 schválila vo veci N 615/08 núdzovú štátnu pomoc, ktorú Nemecko poskytlo v prospech spoločnosti BayernLB, väčšinového vlastníka spoločnosti HGAA, formou pokrytia rizika vo výške 4,8 mld. EUR a kapitálových injekcií v sume 10 mld. EUR podľa článku 107 ods. 3 písm. b) ZFEÚ na obdobie šiestich mesiacov alebo do predloženia vierohodného a zdôvodneného plánu na reštrukturalizáciu banky. Táto pomoc umožnila spoločnosti BayernLB poskytnúť kapitálovú injekciu vo výške 700 mil. EUR v prospech svojej dcérskej spoločnosti HGAA. Rakúsko v ten istý mesiac poskytlo kapitálovú injekciu v sume 900 mil. EUR v prospech HGAA podľa rakúskej schémy na záchranu bánk.

Dňa 29. apríla 2009 Nemecko oznámilo Komisii plán na reštrukturalizáciu banky BayernLB vrátane HGAA. Rakúsko v ten istý dátum poskytlo plán na obnovenie životaschopnosti HGAA, ktorý sa podľa rakúskej schémy na záchranu bánk vyžaduje v prípade bánk, ktoré sú v podstate zdravé.

Komisia vo svojom rozhodnutí z 12. mája 2009 vo veci N 254/09 („rozhodnutie o začatí konania“) vyslovila pochybnosti, či pomoc poskytnutá v prospech BayernLB je zlučiteľná s vnútorným trhom, či HGAA je v podstate zdravou bankou a či pomoc, ktorú Rakúsko poskytlo v prospech HGAA, je zlučiteľná podľa článku 107 ods. 3 písm. b) ZFEÚ.

Rakúsko notifikovalo dodatočné opatrenia pomoci 18. decembra 2009.

Komisia vo svojom rozhodnutí z 23. decembra 2009 vo veci C 16/09 a N 698/09 uznala opatrenia v prospech HGAA opísané ďalej v bode 2 za dočasne zlučiteľné s vnútorným trhom na základe článku 107 ods. 3 písm. b) ZFEÚ do predloženia vierohodného reštrukturalizačného plánu a jeho posúdenia Komisiou, avšak maximálne na obdobie šiestich mesiacov. Zároveň bolo konanie podľa článku 108 ods. 2 ZFEÚ, pokiaľ ide o tieto dodatočné opatrenia, rozšírené.

Rakúsko poskytlo v apríli 2010 plán na reštrukturalizáciu HGAA.

Vzhľadom na prebiehajúce posúdenie reštrukturalizačného plánu a štátnej pomoci Komisiou, Rakúsko požiadalo o predĺženie dočasného schválenia opatrení.

2.   OPATRENIA POSKYTNUTÉ V PROSPECH HGAA

BayernLB poskytla v prospech HGAA 700 mil. EUR a Rakúska republika 900 mil. EUR v rámci kategórie 1 (Partizipationskapital) a záruky za aktíva vo výške 1,35 mld. EUR za emisie dlhopisov na základe rakúskej schémy na záchranu bánk.

Okrem toho boli v prospech HGAA poskytnuté tieto opatrenia pomoci dočasne schválené rozhodnutím z decembra 2009:

| — | dočasná záruka Rakúska vo výške 100 mil. EUR v rámci podmienok pre banky v ohrození podľa rakúskej schémy na záchranu bánk, |
| --- | --- |

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dočasná záruka Rakúska vo výške 100 mil. EUR v rámci podmienok pre banky v ohrození podľa rakúskej schémy na záchranu bánk,

| — | rekapitalizácia spolkovou krajinou Korutánsko vo výške 200 mil. EUR so 6 % dividendou, ktorá sa prvýkrát vyplatí za obchodný rok 2013, |
| --- | --- |

—

rekapitalizácia spolkovou krajinou Korutánsko vo výške 200 mil. EUR so 6 % dividendou, ktorá sa prvýkrát vyplatí za obchodný rok 2013,

| — | ďalšia rekapitalizácia Rakúskom do maximálnej sumy 350 mil. EUR v rámci podmienok pre banky v ohrození podľa rakúskej schémy na záchranu bánk, |
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—

ďalšia rekapitalizácia Rakúskom do maximálnej sumy 350 mil. EUR v rámci podmienok pre banky v ohrození podľa rakúskej schémy na záchranu bánk,

| — | opatrenia na zaistenie likvidity približne v sume 200 mil. EUR poskytnuté spolkovou krajinou Korutánskou v rámci existujúcich obchodných vzťahov. |
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—

opatrenia na zaistenie likvidity približne v sume 200 mil. EUR poskytnuté spolkovou krajinou Korutánskou v rámci existujúcich obchodných vzťahov.

3.   POSÚDENIE

Komisia vo svojich rozhodnutiach z 12. mája 2009 a 23. decembra 2009 už stanovila, že opatrenia poskytnuté v prospech HGAA predstavujú štátnu pomoc.

Pôvodné pochybnosti o zlučiteľnosti opatrení pomoci vyjadrené v dvoch predchádzajúcich rozhodnutiach neboli zatiaľ predložením reštrukturalizačného plánu rozptýlené.

Komisia má pochybnosti, či je celkový obchodný model banky vhodný na obnovenie jej životaschopnosti.

Komisia sa okrem toho pýta, či HGAA vzhľadom na nízky rating a na očakávané vysoké náklady na financovanie po vypršaní záruk od spolkovej krajiny Korutánsko a finančnej podpory od jej bývalého vlastníka BayernLB nebude musieť zásadnejšie preorientovať svoj obchodný model, čo by mohlo ovplyvniť najmä jej obchodnú činnosť v oblasti verejných financií, ktorá sa vyznačuje nízkymi maržami.

Komisia sa ďalej domnieva, že HGAA musí riešiť značné problémy týkajúce sa kvality aktív vzhľadom na nízku a zhoršujúcu sa kvalitu jej úverovej hodnoty. Komisia pochybuje, že príslušné problémy týkajúce sa postupov rozhodovania a riadenia rizika je možné v primeranom čase napraviť.

Komisia okrem toho pochybuje, či banka bude schopná zúročiť svoj kapitál, ako sa stanovuje v oznámení o reštrukturalizácii, v ktorom sa vyžaduje primeraná návratnosť vlastného kapitálu pri zohľadnení rizikového profilu banky, a či bude za bežných trhových podmienok schopná poskytnúť primeranú odmenu alebo splatiť kapitál, ktorý jej štát doteraz poskytol.

Komisia má ďalej pochybnosti, či za kapitálovú injekciu poskytnutú Rakúskom v prospech HGAA podľa rakúskej schémy na záchranu bánk je poskytnutá primeraná odmena, keďže Rakúsko v čase poskytnutia kapitálovej injekcie v decembri 2008 považovalo HGAA za banku, ktorá je v podstate zdravá a ktorá preto profitovala z nízkych úverových sadzieb. Komisia pripomína, že vo svojom rozhodnutí z mája 2009 spochybnila posúdenie Rakúska, že ide o banku, ktorá je v podstate zdravá.

Pokiaľ ide o opatrenia narúšajúce hospodársku súťaž, Komisia pripomína svoje pochybnosti, či navrhované opatrenia sú dostatočné nato, aby primerane obmedzili toto narušenie, ktoré vzniklo poskytnutím štátnej pomoci. Najmä v prípade väčšiny obchodných činností, ktoré HGAA plánuje odpredať, sa jej pozornosť zrejme sústreďuje na stratové činnosti, ktorých odpredaj je aj tak nevyhnutný na obnovenie životaschopnosti. Inými slovami Komisia pochybuje, či nie je potrebných viac opatrení na riešenie narúšania hospodárskej súťaže spôsobenej poskytnutím štátnej pomoci.

TEXT LISTU

„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. |
| --- | --- |

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

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

(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

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| 1.10.2010 | SK | Úradný vestník Európskej únie | C 266/11 |
| --- | --- | --- | --- |

1.10.2010

SK

Úradný vestník Európskej únie

C 266/11

---

Predbežné oznámenie o koncentrácii

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

(Text s významom pre EHP)

2010/C 266/06

| 1. | Komisia bolo 23. septembra 2010 podľa článku 4 nariadenia Rady (ES) č. 139/2004 (1) doručené oznámenie o zamýšľanej koncentrácii, ktorou podnik Finavias S. à. r. l. („Finavias“, Luxembursko) kontrolovaný podnikom AXA Investment Managers Private Equity SA („AXA Private Equity“, Francúzsko) patriacim skupine AXA („AXA“, Francúzsko), a podnik Iberpistas kontrolovaný podnikom Abertis Infraestructuras, SA („Abertis“, Španielsko), získavajú v zmysle článku 3 ods. 1 písm. b) nariadenia (ES) o fúziách prostredníctvom kúpy akcií spoločnú kontrolu nad podnikom Autopista Trados M-45 („Trados M-45“, Španielsko). |
| --- | --- |

1.

Komisia bolo 23. septembra 2010 podľa článku 4 nariadenia Rady (ES) č. 139/2004 (1) doručené oznámenie o zamýšľanej koncentrácii, ktorou podnik Finavias S. à. r. l. („Finavias“, Luxembursko) kontrolovaný podnikom AXA Investment Managers Private Equity SA („AXA Private Equity“, Francúzsko) patriacim skupine AXA („AXA“, Francúzsko), a podnik Iberpistas kontrolovaný podnikom Abertis Infraestructuras, SA („Abertis“, Španielsko), získavajú v zmysle článku 3 ods. 1 písm. b) nariadenia (ES) o fúziách prostredníctvom kúpy akcií spoločnú kontrolu nad podnikom Autopista Trados M-45 („Trados M-45“, Španielsko).

| 2. | Predmet činnosti dotknutých podnikov:






  — | Finavias: súkromný kapitál a činnosti týkajúce sa správy aktív, |
| --- | --- | --- |

2.

Predmet činnosti dotknutých podnikov:

—

Finavias: súkromný kapitál a činnosti týkajúce sa správy aktív,

| — | AXA Private Equity: správa aktív a investície do nekótovaných spoločností alebo investičných fondov. Patrí do medzinárodnej skupiny AXA zameranej na poskytovanie životného a iného poistenia a súvisiacich finančných služieb, |
| --- | --- |

—

AXA Private Equity: správa aktív a investície do nekótovaných spoločností alebo investičných fondov. Patrí do medzinárodnej skupiny AXA zameranej na poskytovanie životného a iného poistenia a súvisiacich finančných služieb,

| — | Abertis: pôsobí v oblasti mobility a telekomunikácií prostredníctvom činnosti v piatich odvetviach: spoplatnené cesty, telekomunikačné infraštruktúry, letiská, parkoviská a logistika, |
| --- | --- |

—

Abertis: pôsobí v oblasti mobility a telekomunikácií prostredníctvom činnosti v piatich odvetviach: spoplatnené cesty, telekomunikačné infraštruktúry, letiská, parkoviská a logistika,

| — | Trados M-45: správa cestných koncesií. |
| --- | --- |

—

Trados M-45: správa cestných koncesií.

| 3. | Na základe predbežného posúdenia a bez toho, aby bolo dotknuté konečné rozhodnutie v tejto veci, sa Komisia domnieva, že oznámená transakcia by mohla patriť do rozsahu pôsobnosti nariadenia ES o fúziách. |
| --- | --- |

3.

Na základe predbežného posúdenia a bez toho, aby bolo dotknuté konečné rozhodnutie v tejto veci, sa Komisia domnieva, že oznámená transakcia by mohla patriť do rozsahu pôsobnosti nariadenia ES o fúziách.

| 4. | Komisia vyzýva zainteresované tretie strany, aby predložili prípadné pripomienky k zamýšľanej koncentrácii.
  Pripomienky musia byť Komisii doručené najneskôr do 10 dní od dátumu uverejnenia tohto oznámenia. Pripomienky je možné zaslať faxom (+32 22964301), e-mailom na adresu COMP-MERGER-REGISTRY@ec.europa.eu alebo poštou s uvedením referenčného čísla COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45 na túto adresu:





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

4.

Komisia vyzýva zainteresované tretie strany, aby predložili prípadné pripomienky k zamýšľanej koncentrácii.

Pripomienky musia byť Komisii doručené najneskôr do 10 dní od dátumu uverejnenia tohto oznámenia. Pripomienky je možné zaslať faxom (+32 22964301), e-mailom na adresu COMP-MERGER-REGISTRY@ec.europa.eu alebo poštou s uvedením referenčného čísla COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45 na túto adresu:

European Commission

Directorate-General for Competition

Merger Registry

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  Ú. v. EÚ L 24, 29.1.2004, s. 1 („nariadenie ES o fúziách“).

---

| 1.10.2010 | SK | Úradný vestník Európskej únie | C 266/12 |
| --- | --- | --- | --- |

1.10.2010

SK

Úradný vestník Európskej únie

C 266/12

---

Predbežné oznámenie o koncentrácii

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

Vec, ktorá môže byť posúdená v zjednodušenom konaní

(Text s významom pre EHP)

2010/C 266/07

| 1. | Komisia bolo dňa 22. septembra 2010 podľa článku 4 nariadenia Rady (ES) č. 139/2004 (1) doručené oznámenie o zamýšľanej koncentrácii, ktorou podniky Apotheek DocMorris N.V. (Holandsko), ktorý patrí do skupiny Haniel, a podnik K-mail Order GmbH & Co KG (Nemecko) získavajú v zmysle článku 3 ods. 1 písm. b) nariadenia (ES) o fúziách prostredníctvom kúpy akcií v novozaloženej spoločnosti tvoriacej spoločný podnik spoločnú kontrolu nad podnikom Wellsana B.V. (Holandsko). |
| --- | --- |

1.

Komisia bolo dňa 22. septembra 2010 podľa článku 4 nariadenia Rady (ES) č. 139/2004 (1) doručené oznámenie o zamýšľanej koncentrácii, ktorou podniky Apotheek DocMorris N.V. (Holandsko), ktorý patrí do skupiny Haniel, a podnik K-mail Order GmbH & Co KG (Nemecko) získavajú v zmysle článku 3 ods. 1 písm. b) nariadenia (ES) o fúziách prostredníctvom kúpy akcií v novozaloženej spoločnosti tvoriacej spoločný podnik spoločnú kontrolu nad podnikom Wellsana B.V. (Holandsko).

| 2. | Predmet činnosti dotknutých podnikov:






  — | Apotheek DocMorris N.V.: maloobchodný predaj lekárnických výrobkov v lekárni, |
| --- | --- | --- |

2.

Predmet činnosti dotknutých podnikov:

—

Apotheek DocMorris N.V.: maloobchodný predaj lekárnických výrobkov v lekárni,

| — | K-mail Order GmbH & Co KG: maloobchodný predaj oblečenia, šperkov, nábytku, potrieb do domácnosti, ako aj výrobkov zdravotnej starostlivosti. |
| --- | --- |

—

K-mail Order GmbH & Co KG: maloobchodný predaj oblečenia, šperkov, nábytku, potrieb do domácnosti, ako aj výrobkov zdravotnej starostlivosti.

| 3. | Na základe predbežného posúdenia a bez toho, aby bolo dotknuté konečné rozhodnutie v tejto veci, sa Komisia domnieva, že oznámená transakcia by mohla spadať do rozsahu pôsobnosti nariadenia ES o fúziách. V súlade s oznámením Komisie týkajúcim sa zjednodušeného konania pre posudzovanie určitých druhov koncentrácií podľa nariadenia ES o fúziách (2) je potrebné uviesť, že túto vec je možné posudzovať v súlade s postupom stanoveným v oznámení. |
| --- | --- |

3.

Na základe predbežného posúdenia a bez toho, aby bolo dotknuté konečné rozhodnutie v tejto veci, sa Komisia domnieva, že oznámená transakcia by mohla spadať do rozsahu pôsobnosti nariadenia ES o fúziách. V súlade s oznámením Komisie týkajúcim sa zjednodušeného konania pre posudzovanie určitých druhov koncentrácií podľa nariadenia ES o fúziách (2) je potrebné uviesť, že túto vec je možné posudzovať v súlade s postupom stanoveným v oznámení.

| 4. | Komisia vyzýva zainteresované tretie strany, aby predložili prípadné pripomienky k zamýšľanej koncentrácii.
  Pripomienky musia byť Komisii doručené najneskôr do 10 dní od dátumu uverejnenia tohto oznámenia. Pripomienky je možné zaslať faxom (+32 22964301), e-mailom na adresu: COMP-MERGER-REGISTRY@ec.europa.eu alebo poštou s uvedením referenčného čísla COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV na túto adresu:





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

4.

Komisia vyzýva zainteresované tretie strany, aby predložili prípadné pripomienky k zamýšľanej koncentrácii.

Pripomienky musia byť Komisii doručené najneskôr do 10 dní od dátumu uverejnenia tohto oznámenia. Pripomienky je možné zaslať faxom (+32 22964301), e-mailom na adresu: COMP-MERGER-REGISTRY@ec.europa.eu alebo poštou s uvedením referenčného čísla COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV na túto adresu:

European Commission

Directorate-General for Competition

Merger Registry

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  Ú. v. EÚ L 24, 29.1.2004, s. 1 („nariadenie ES o fúziách“).

(2)  Ú. v. EÚ C 56, 5.3.2005, s. 32 („Oznámenie o zjednodušenom postupe“).

---