natgillin/translations-raw huggingface dataset:
Et SPV-selskab er derfor en retlig struktur, hvortil begge virksomheder afsætter de ressourcer (i form af finansiering, personale, aktiver …), som er nødvendige for gennemførelse af deres fælles projekt, funktion eller aktivitet, og gennem hvilket de iværksætter dette fælles projekt eller udfører den fælles funktion eller aktivitet.
However, various elements cast doubts on the absence of State aid in Extension 2, such as the fact that the beneficiary had not yet repaid previous loans, the existence of aid in Loan 4 and Extension 1 and the short duration of the period between the granting of Extension 2 and the preliminary agreement concluded by public authorities and FN GmbH on the debt-to-equity swap referred to in Recital 45.
I visse situationer, f.eks. når SPV-selskabet kun har en produktions- eller forsknings- og udviklingsfunktion, kan det modtage finansiering på vegne af sine moderselskaber uden i sig selv at skabe overskud, som kan omfordeles til aktionærerne/andelshaverne, f.eks. i form af udbytte.
In any event, the Commission considers that, for the very same reasons set out in Section 9.4 concerning the compatibility of the aid involved in Extension 1 with the internal market, if Extension 2 qualifies as State aid, such aid can be considered as compatible with the internal market.
I stedet for at skabe en sådan fortjeneste bidrager det til at gennemføre transaktioner, som dets moderselskaber finder nødvendige i lyset af deres mål.
Loan 4 and Extension 1 are granted at a rate below the benchmark rate with a difference of […] bps.
På baggrund af ovenstående bør Landkreis Kleves og Weeze kommunes dispositioner over for EEL GmbH analyseres under hensyntagen til, at disse to offentlige myndigheder er de eneste andelshavere i EEL GmbH, og at fra 2003 er EEL GmbH's eneste formål at give FN GmbH de forskellige lån og forlængelser af fristen for tilbagebetaling, der udgør foranstaltning 1.
Therefore, the Commission takes the view that as regards Loan 4 and extension 1, FN GmbH has received an economic advantage that it would have not received under normal market conditions [58].
Kommissionen minder om, at den række af foranstaltninger, der udgør foranstaltning 1, som angivet i afsnit 8.3.2, utvetydigt kan tilregnes Landkreis Kleve og Weeze kommune.
Selectivity
Med andre ord udformede de to offentlige myndigheder foranstaltning 1, som de besluttede at gennemføre via EEL GmbH.
For the case at hand, the Commission notes that Measure 1 (Loan 4, Extension 1 and possibly Extension 2) is an individual aid measure, which was only granted to FN GmbH, and is not a general measure.
Udgangspunktet for anvendelse af princippet om den markedsøkonomiske aktør på foranstaltning 4 bør derfor være Landkreis Kleves og Weeze kommunes beslutning om at gennemføre foranstaltning 1 og benytte EEL GmbH til det formål.
Therefore, the advantage conferred on FN GmbH by Measure 1 (Loan 4, Extension 1 and possibly Extension 2) is selective.
Det relevante spørgsmål, som Kommissionen skal besvare, er følgende: Hvis to hypotetiske markedsøkonomiske aktører havde besluttet at gennemføre foranstaltninger som dem, der udgør foranstaltning 1, ville de så have benyttet et SPV-selskab som EEL GmbH og givet det finansiering svarende til finansieringen fra foranstaltning 4 for at nå dette mål?
Distortion of competition and effect on trade
På denne baggrund ville den omstændighed, at EEL GmbH kan have modtaget visse lån fra sine andelshavere til rentesatser under de normale markedssatser, at garantien blev stillet gratis, og at kapitalen blev tilført uden nogen klar udsigt til økonomisk afkast, ikke nødvendigvis føre til den konklusion, at Landkreis Kleve og Weeze kommune ikke handlede over for EEL GmbH, som markedsøkonomiske aktører ville have gjort.
According to the case law of the Court of Justice of the European Union, financial support distorts competition in so far as it strengthens the position of an undertaking compared with other undertakings [59].
Det relevante spørgsmål er snarere, hvorvidt den finansiering, der blev ydet til EEL GmbH under foranstaltning 4, fra en markedsøkonomisk aktørs perspektiv er rimelig i lyset af det mål, som EEL GmbH's andelshavere forfulgte, nemlig gennemførelsen af foranstaltning 1.
In general, when an advantage granted by a Member State strengthens the position of an undertaking compared with other undertakings competing in a given Union market, trade between Member States must be regarded as being affected by that advantage [60].
To forsigtige markedsøkonomiske aktører med samme mål som EEL GmbH's offentlige andelshavere ville i al væsentlighed have haft to muligheder: oprette et SPV-selskab som EEL GmbH (model 1) eller yde lån direkte til FN GmbH uden et særligt organ (model 2).
Airport managers compete at European level to attract airlines so that they open new routes from their airports, or add new frequencies on such routes.
En rationel markedsøkonomisk aktør ville ikke have taget andre muligheder i betragtning som f.eks. brugen af private finansielle formidlere, som ville have taget sig betalt for at levere en sådan tjenesteydelse.
When choosing the airports from which they open routes, or where they add new frequencies on existing routes, airlines compare airports, on the basis of factors such as the type of airport services provided and the clients concerned, the population or economic activity, congestion, whether there is access by land, and the level of charges and overall commercial conditions for use of airport infrastructure and services [61].
På grund af gebyrerne ville denne mulighed have forøget omkostningerne ved at kanalisere midler til FN GmbH.
By providing FN GmbH with financing under more favourable terms than normal market conditions, Germany has thus allowed it to compete more aggressively against other airport managers to attract airlines than it could have done should it have paid a cost of capital in line with normal market conditions.
Kommissionen bemærker, at når de offentlige andelshavere i stedet for at anvende finansielle formidlere besluttede selv at finansiere EEL GmbH, begrænsede de deres finansielle eksponering til, hvad der var strengt nødvendigt for at finansiere FN GmbH under foranstaltning 1:
Therefore, Measure 1 (Loan 4 and Extension 1 and possibly 2) had the potential to distort competition and affect intra-EU trade.
Det finansieringsniveau, der blev leveret direkte af EEL GmbH's offentlige andelshavere indtil 2010 ([20-40] mio. EUR [70]) var proportionalt med det beløb, som FN GmbH lånte af EEL GmbH ([20-40] mio. EUR [71])
Conclusion
Betingelserne for EEL GmbH's finansiering (tidspunkt, beløb og forfaldsdato) blev tilpasset EEL GmbH's finansiering af FN GmbH:
The comparison of the actual loan rates with the benchmark rates derived from the 2008 Reference Rate communication shows that all loans and loan extensions apart from Loan 4 and Extension 1 are granted at rates above the benchmark rates.
Dato for EEL GmbH's lån til FN GmbH
The Commission can therefore conclude that loans 1, 2, 3 were granted in line with market conditions, while Loan 4 and Extension 1 were not.
Dato for Tysklands offentlige foranstaltninger til fordel for EEL GmbH
The Commission leaves open whether Extension 2 has been granted in line with market conditions.
[5-15] (+ [2-5] modtaget som et banklån den 2. maj 2003)
As the cumulative criteria pursuant to Article 107(1) of the TFEU are fulfilled, the Commission considers that Loan 4, Extension 1, and possibly Extension 2 in Measure 1 involve State aid within the meaning of Article 107(1) of the TFEU.
Forlængelse af lån til 31.12.2010
Existence of aid concerning the support received by the Land Nordrhein-Westfalen (Measure 2)
Forlængelse af lån til 31.12.2010 og gældsomlægning
The same reasoning as for the aid nature of Measure 1 applies (see section 8.3.1 further above), although Germany argued that it constitutes existing aid (see Recital 102).
Forlængelse af lån til 31.12.2016
In the Leipzig Halle judgment, the Court of Justice confirmed that the construction of the airport infrastructure should also fall under State aid rules as of 2000, that is before the date of granting of measure 2 on 15 October 2002.
EEL GmbH har ikke andre materielle aktiver i sin balance end dets fordringer over for FN GmbH.
The Commission takes the view that the measure therefore constituted aid at the time it was put into effect.
De (små) overskud, som finansieringen af FN GmbH genererer, optræder godt nok i EEL GmbH's regnskaber, men de modsvares ikke af en egentlig kontantbeholdning eller likviditet, idet FN GmbH ikke har tilbagebetalt sin gæld til EEL GmbH
Contrary to what Germany has claimed, the fact that the measure was adopted under the 1993 Decree does not affect that assessment.
Det fremgår af referaterne af EEL GmbH's generalforsamlinger, at renteindtægterne som følge af EEL GmbH's strategi om at finansiere FN GmbH alene har til formål at skabe balance i EEL GmbH's regnskab og betale renterne på de forlængede lån, som de offentlige andelshavere og [bank] har ydet
The 1993 Decree only provided a legal basis to allow possible support measures to regional airports that the Land Nordrhein Westfalen may contemplate as from 1993.
EEL GmbH er derfor ikke i stand til at betale dets to andelshavere og [bank] tilbage, så længe FN GmbH ikke har betalt lån og renter tilbage til EEL GmbH.
But it did not provide for an irrevocable commitment vis-à-vis FN GmbH to grant Measure 2 or create any legal entitlement by itself for the beneficiary (as explicitly stipulated in Article 1 of the 1993 Decree).
Det betyder, at EEL GmbH, som Tyskland påpeger, ikke kan udøve nogen anden økonomisk virksomhed.
Measure 2 constitutes in fact an individual application of the scheme established by the 1993 Decree.
Kommissionen er af den opfattelse, at de to andelshaveres valg af model 1 derfor var i overensstemmelse med sidstnævntes erklærede mål at hellige EEL GmbH's ressourcer til finansieringen af FN GmbH.
As a result, the Commission concludes that it is entitled to examine Measure 2 put into question under State aid rules since at the time when it was granted, it was clear that FN GmbH was engaged in an economic activity.
Kommissionen finder desuden, at administrations- og forvaltningsudgifterne ved et SPV-selskab som EEL GmbH under model 1 reduceres til et absolut minimum (der immobiliseres ingen andre aktiver end fordringerne over for FN GmbH, der er intet fast personale eller ledelse, næsten ingen driftsudgifter og ingen finansielle omkostninger ud over tilbagebetalingen af det lån, som [bank] ydede).
As mentioned at paragraph 111 of the opening decision, public support was paid directly from the budget of the Nordrhein-Westfalen Land as a direct grant in favour of FN GmbH.
Det gælder navnlig, idet EEL GmbH allerede fandtes som en hvilende struktur, da de to offentlige andelshavere besluttede at gennemføre foranstaltning 1, og ikke skulle oprettes ex nihilo.
Thus, the funding provided by the Land Nordrhein-Westfalen was financed through State resources and is imputable to the State.
Et SPV-selskab gør det også lettere at forvalte de finansielle transaktioner med tredjeparter (som FN GmbH eller en privat bank), og samtidig minimeres transaktionsomkostningerne mellem de to andelshavere.
Economic Advantage
Hvis model 2 var blevet gennemført, ville det have medført en fordobling af støttemekanismerne til fordel for FN GmbH, hvilket ville have øget de administrative omkostninger og retsomkostningerne ved at kanalisere midler til FN GmbH (f.eks. en fordobling af antallet af retlige kontrakter) og muligvis have påvirket kvaliteten af tilsynet og koordineringen af projektet.
In order to evaluate whether a State measure constitutes aid, it has to be determined whether the beneficiary undertaking receives an economic advantage that it would not have received under normal market conditions.
Derfor ville det have været rationelt for to forsigtige markedsøkonomiske aktører med profit for øje på mellemlangt til langt sigt, og som handlede på vegne af EEL GmbH's offentlige andelshavere, at vælge model 1 frem for model 2.
In the case under investigation, the Land of Nordrhein-Westfalen has granted public funds in form of a direct grant to support infrastructure investments at the airport.
Kommissionen er af den opfattelse, at markedsinvestortesten er bestået, og at der ikke er nogen økonomisk fordel for EEL GmbH.
These funds were received by FN GmbH as airport manager to finance investments at the airport.
Fra 2003 var EEL GmbH's aktiviteter strengt begrænset til finansiering af FN GmbH.
The Commission notes that no market investor would provide such a grant without any remuneration and without any possibility of a return.
EEL GmbH kunne ikke udøve anden virksomhed.
Therefore, the investment grant reduces the investment costs that the airport operator would normally have to bear, without any remuneration, and therefore confer an economic advantage on FN GmbH.
Selskabet kunne eksempelvis ikke yde lån til en anden enhed.
For the case at hand, the Commission notes that Measure 2 is an individual application of a scheme on the basis of which advantages were not only granted to the Niederrhein-Weeze Airport, but also to several other airports located in the Land Nordrhein-Westfalen.
Derfor er den eneste aktivitet, som kan have bevirket, at foranstaltning 4 har påvirket den konkurrencemæssige dynamik, tilvejebringelsen af finansiering til FN GmbH.
However, the scheme in question is not a general measure for all airports in Nordrhein-Westfalen, as the larger airports Düsseldorf and Köln/Bonn are not eligible for this support measure from the Land.
En sådan konkurrencemæssig virkning ville have forekommet, hvis foranstaltning 4 ikke var blevet gennemført, og andre udbydere af finansieringsydelser end EEL GmbH såsom banker eller andre investorer ville have haft større mulighed for at yde støtte til FN GmbH med profit for øje.
In any event, had all airports in Nordrhein-Westfalen would been eligible, such a sectorial measure would have to have been regarded as selective, as it only benefitted a certain sector in a certain region.
Som anført i afsnit 8.5.3 var det imidlertid Landkreis Kleves og Weeze kommunes klare intention selv at gennemføre foranstaltning 1 for at yde finansiering til FN GmbH.
Therefore, the advantage conferred on FN GmbH by Measure 2 is selective.
Foranstaltning 4 blev alene gennemført for at gennemføre foranstaltning 1.
According to the case law of the Court of Justice of the European Union, financial support distorts competition in so far as it strengthens the position of an undertaking compared with other undertakings [62].
Hvis foranstaltning 4 ikke var blevet gennemført, ville EEL GmbH ikke have været i stand til selv at gennemføre foranstaltning 1.
In general, when an advantage granted by a Member State strengthens the position of an undertaking compared with other undertakings competing in a given Union market, trade between Member States must be regarded as being affected by that advantage [63].
I så fald ville Landkreis Kleve og Weeze kommune imidlertid blot have besluttet at gennemføre foranstaltning 1 uden at benytte sig af EEL GmbH, f.eks. ved at etablere et direkte retligt forhold til FN GmbH.
When choosing the airports from which they open routes, or where they add new frequencies on existing routes, airlines compare airports, on the basis of factors such as the type of airport services provided and the clients concerned, the population or economic activity, congestion, whether there is access by land, and the level of charges and overall commercial conditions for use of airport infrastructure and services [64].
Hvis foranstaltning 4 ikke var blevet gennemført, ville banker og andre investorer derfor ikke have haft bedre mulighed for at skabe profit, idet Landkreis Kleve og Weeze kommune under alle omstændigheder ville have leveret den nødvendige finansiering.
Therefore, Measure 2 had the potential to distort competition and affect intra-EU trade.
Hvis det antages, at foranstaltning 4 indebar en økonomisk fordel for EEL GmbH (hvilket ikke er tilfældet), ville denne fordel derfor ikke have haft nogen virkning på konkurrencen og samhandelen, hvorfor den ikke ville indebære statsstøtte i henhold til artikel 107, stk. 1, i TEUF.
Measure 2 constitutes State aid to FN GmbH within the meaning of Article 107(1) TFEU.
Af ovennævnte årsager indebærer foranstaltning 4 ikke statsstøtte til EEL GmbH i henhold til artikel 107, stk. 1, i TEUF.
Existence of aid concerning the support received from the district of Kleve (Measure 3)
Ny støtte eller eksisterende støtte?
The same reasoning as for the aid nature of the loans provided by the publicly owned EEL GmbH applies (see section 8.3.1 further above) applies.
Der findes en udtømmende fortegnelse over de situationer, hvor en foranstaltning udgør eksisterende støtte, i artikel 1 i forordning (EF) nr. 659/1999 [72].
Indeed, the various measures constituting Measure 3 were granted on 14 March 2002, that is, after the judgment in Aéroports de Paris was delivered.
Det er ubestrideligt, at de pågældende foranstaltninger ikke blev iværksat inden Tysklands tiltrædelse af EU (litra b), nr. i), i ovennævnte artikel), at de ikke kan anses for at være godkendt, fordi Kommissionen ikke har truffet en afgørelse inden for de proceduremæssige frister (litra b), nr. iii)), og at de ikke kan anses for eksisterende støtte, fordi forældelsesfristen er udløbet (litra b), nr. iv)).
According to paragraph 1, point 4 of the loan agreement, the date of granting of the measure is the date, when the beneficiary concluded the purchase of the airport infrastructure with the German federal government, that is 14 March 2002.
Foranstaltningerne blev ikke støttet på grund af fællesmarkedets udvikling og uden at være blevet ændret af medlemsstaten (litra b), nr. v), første punktum) [73].
As a result, the Commission concludes that it is entitled to examine Measure 3 and to assess its compatibility with State aid rules since at the time when it was granted, it was clear that FN GmbH was engaged in an economic activity.
Denne vurdering er navnlig gyldig for foranstaltning 2, selv om Tyskland hævder, at der er tale om eksisterende støtte (se betragtning 102).
The support was granted directly from the budget of the district of Kleve to FN GmbH.
Kommissionen finder derfor, at foranstaltningen udgjorde støtte, da den blev gennemført.
In order to evaluate whether a State measure constitutes aid, it has to be determined whether the beneficiary undertaking receives an economic advantage that it would have not received under normal market conditions.
I modsætning til, hvad Tyskland har hævdet, påvirker det ikke vurderingen, at foranstaltningen blev vedtaget under 1993-dekretet.
In this respect, the Commission must analyse whether the district of Kleve has acted as a market economy investor in waiving one tranche of the bridge financing previously granted to FN GmbH.
ekretet gav alene hjemmel til at tillade mulige støtteforanstaltninger til regionale lufthavne, som Land Nordrhein-Westfalen måtte planlægge at gennemføre fra 1993, men skaber ikke i sig selv et retskrav for disse lufthavne, hvilket udtrykkeligt er fastsat i artikel 1 i 1993-dekretet.
The conduct of an investor in a market economy is guided by prospects of profitability [65].
Foranstaltning 2 blev ydet den 15. oktober 2002, dvs. efter dommen i Aéroports de Paris-sagen blev afsagt.
The market investor test will normally be satisfied where the structure and future prospects for the company are such that a normal return, by way of dividend payments or capital appreciation by reference to a comparable private undertaking, can be expected within a reasonable period.
Derfor indebar foranstaltning 2 allerede statsstøtte, da den blev ydet, som vist i afsnit 8.4.6, og blev ikke efterfølgende til statsstøtte som følge af fællesmarkedets udvikling.
In the case at issue, the district of Kleve has granted a zero-interest loan granted to FN GmbH of EUR [4-10] million and waived the obligation of FN GmbH to repay a tranche, amounting to EUR [2-5] million, without receiving any further remuneration.
Endvidere blev foranstaltning 2 ydet, færre end ti år før Kommissionen indledte den formelle undersøgelsesprocedure om den, hvorfor den ikke blev eksisterende støtte efter udløbet af forældelsesfristen.
This last decision was in fact the implementation of the clause laid down in paragraph 4, point 1 of the loan agreement itself, whereby the tranche in question would not be repaid if the objective of creation of 350 jobs would be reached.
Således betragtes foranstaltning 2 ikke som eksisterende støtte.
Thus, the Commission notes that no market investor would have granted a zero-interest loan and waived the repayment of a significant part thereof without any remuneration.
Støtteforanstaltningens lovlighed
Furthermore, the assessment of the market economy investor should leave aside any positive repercussions on the economy of the region in which the airport is located, including in terms of job creation, since the Commission assesses whether the given measure constitutes aid by considering whether ‘in similar circumstances a private shareholder, having regard to the foreseeability of obtaining a return and leaving aside all social, regional-policy and sectoral considerations, would have subscribed the capital in question’ [66].
I henhold til EUF-traktatens artikel 108, stk. 3, skal medlemsstaterne underrette Kommissionen om enhver påtænkt indførelse eller ændring af støtteforanstaltninger, før Kommissionen har truffet en endelig afgørelse derom.
In the case at issue, the only counterpart to the waiver of the repayment obligation was a certain level of job creation.
FORENELIGHED
In other words, no market economy investor would have agreed to waive the repayment of EUR [2-5] million on the basis of job creation considerations in the region.
Anvendelse af luftfartsretningslinjerne fra 2014 og 2005
Therefore, the interest-free nature of the loan and the waiver granted by the district of Kleve reduce the costs that the airport operator would normally have to bear and therefore confers an advantage to FN GmbH that it would not obtain under normal market conditions.
De undersøgte foranstaltninger bør vurderes på grundlag af artikel 107, stk. 3, litra c), i TEUF, hvoraf det fremgår, at: »støtte til fremme af udviklingen af visse erhvervsgrene eller økonomiske regioner, når den ikke ændrer samhandelsvilkårene på en måde, der strider mod den fælles interesse«, kan betragtes som forenelige med det indre marked.
The advantage in question was granted only to FN GmbH.
Luftfartsretningslinjerne fra 2014 udgør et grundlag til vurdering af, om støtte til lufthavne kan erklæres forenelig i henhold til artikel 107, stk. 3, litra c), i TEUF.
As the public funding was directed at a single undertaking, it is selective within the meaning of Article 107(1) TFEU.
Med hensyn til investeringsstøtte anvender Kommissionen i overensstemmelse med sin meddelelse om fastlæggelse af reglerne for vurdering af ulovlig statsstøtte de regler, der var i kraft, da støtten blev ydet, på ulovlig investeringsstøtte til lufthavne.
The same reasoning as for the distortion of competition and effect on trade as elaborated above (see section 8.4.5) applies.
Følgelig vil den anvende de principper, der er fastsat i luftfartsretningslinjerne fra 2005, på ulovlig investeringsstøtte til lufthavne, som blev ydet før den 4. april 2014 [76].
For the reasons set out above the Commission takes the view that the public funds provided by the district of Kleve and granted to FN GmbH with regard to the agreement concerning the bridge financing of part of the acquisition costs for the airport real estate involve State aid within the meaning of Article 107(1) TFEU.
Kommissionen har allerede konkluderet, at foranstaltning 2 og 3 udgør ulovlig statsstøtte ydet før den 4. april 2014, mens foranstaltning 1 og 4 ikke indebærer statsstøtte.
Existence of aid concerning the support received by EEL GmbH from the district of Kleve and the municipality of Weeze (Measure 4)