Judgment — ECLI:EU:C:2017:885
Date: 2017-11-23
Language of the case: Italian
Court formation: Ninth Chamber
Subject matter: State aids;Competition
Procedure: Action for annulment;Appeal - unfounded;Appeal - inadmissible
Origin: Italy

Judgment of the Court (Ninth Chamber) of 23 November 2017 — SACE and Sace BT v Commission (Case C‑472/15 P) (1) (Appeal — State aid — Export credit insurance — Reinsurance cover provided by a public undertaking to its subsidiary — Capital contributions to cover the subsidiary’s losses — Notion of State aid — Imputability to the State — Private investor test) 1. State aid — Definition — Aid granted to a public undertaking — Undertaking controlled by the State — Imputability to the State of the aid measure — Included — Set of indicators to be taken into consideration (Art. 107(1) TFEU) (see paras 29, 34-37, 40-42, 52, 53) 2. Appeal — Grounds — Mistaken assessment of the facts — Inadmissibility — Review by the Court of Justice of the assessment of the facts put before the General Court — Possible only where the clear sense of the evidence has been distorted (Art. 256(1), second para., TFEU; Statute of the Court of Justice, Art. 58, first para.; Rules of Procedure of the Court of Justice, Art. 168(1)(d)) (see paras 56-58, 91-93, 111) 3. State aid — Commission decision — Assessment of the legality by reference to the information available at the time of adoption of the decision (Art. 108 TFEU) (see para. 76) 4. State aid — Definition — Assessment according to the criterion of the private investor — Assessment of all factors relevant to the transaction at issue and its context — Obligation of the Member State to provide objective and verifiable evidence showing the economic character of its activity (Art. 107(1) TFEU) (see para. 107) Operative part The Court: 1. Dismisses the appeal; 2. Orders Servizi assicurativi del commercio estero SpA (SACE) and Sace BT SpA to bear their own costs and to pay those incurred by the European Commission in the appeal; 3. Orders the Italian Republic to bear its own costs. 1 OJ C 381, 16.11.2015.