natgillin/translations-raw huggingface dataset:
Efter EKSF-traktatens udløb den 23. juli 2002 vedtog Kommissionen således forskellige retningslinjer eller meddelelser om fortsat forbud mod regionalstøtte til investeringer og støtte til redning og omstrukturering i stålindustrien.
It therefore notes that NLMK's parent company was rated BBB- by Standard & Poor's, Ba1 by Moody's and BB+ by Fitch Ratings (ratings taken from NLMK's annual report 2009).
I punkt 8 i retningslinjerne for statsstøtte med regionalt sigte for 2007-2013 [60], den periode, hvor FSIH har ydet den omhandlede støtte, er regionalstøtte i stålindustrien udtrykkeligt udelukket af retningslinjernes anvendelsesområde, og det fastslås, at den er uforenelig med fællesmarkedet.
According to the 2008 Reference Rate Communication, these ratings correspond to the ‘satisfactory rating’ (BB).
Det fastslås ligeledes i meddelelsen om støtte i stålindustrien [61], der var gældende indtil den 31. december 2009, at støtte til redning og omstrukturering af kriseramte virksomheder i stålindustrien ikke er forenelig med fællesmarkedet.
The second parent company, Duferco, was also rated BB by the estimate adopted by the Commission in recital 313.
Det er kun tilladt at yde støtte under visse betingelser til dækning af ydelser til arbejdstagere i stålvirksomheder, der afskediges eller førtidspensioneres, og at yde støtte til virksomheder, der indstiller produktionen permanent.
As a subsidiary of the two companies (NLMK and Duferco) rated BB according to the Commission's estimates, and taking into account the particularly difficult macroeconomic context of 2009 in the steel sector, the Commission takes the view that SIF's rating could prudently and reasonably be classified as BB.
Formålet med støtten ydet af FSIH henhører ikke under de ovennævnte to støttekategorier.
The Commission also notes that the loan was granted without collateral.
Støtten er tværtimod blevet anvendt til finansiering af investeringer.
SIF objects that it had the capacity to provide its own guarantee, even that of NLMK or Duferco: ‘If FSIH did not ask for any guarantee from it, that is because its financial situation at the time, the fact that it belonged to the NLMK/Duferco Groups and the guarantee offered by NLMK in the event of a change of control were such as to reassure FSIH as to its capacity to repay the loan [50].’
Med hensyn til den eventuelle forenelighed af støtten til SIF i henhold til meddelelsen fra 2009 mener Kommissionen ikke, at denne meddelelse finder anvendelse på SIF.
SIF insists that it was financially sound in 2008.
Punkt 4.4.2 i meddelelsen fra 2009 er således rettet mod virksomheder, der har svært ved at opnå finansiering på grund af markedssituationen i perioden december 2008-december 2010.
However, the loan granted by FSIH was for [7-12] years with repayment on maturity.
Det fremgår imidlertid ikke af SIF's bemærkninger, at selskabet havde vanskeligheder af denne art. Kommissionen mener således ikke, at SIF opfyldte kriterierne for støtteberettigelse i meddelelsen fra 2009, og at støtten kan anses for at være forenelig med det indre marked.
Given these two characteristics, the Commission considers that a private lender would have required sufficient and proportional guarantees to remunerate its risk over [7-12] years and would not have been satisfied with only the financial results of SIF for the 2008 financial year to waive any collateral.
Det bekræftes således i punkt 18 i Fællesskabets rammebestemmelser for statsstøtte til redning og omstrukturering af kriseramte virksomheder [62], der var gældende indtil den 30. juli 2014, at stålindustrien ikke er omfattet af bestemmelsernes anvendelsesområde.
The Commission concludes that the level of collateral on the loan is weak.
På baggrund af ovenstående konkluderer Kommissionen, at de seks omhandlede støtteforanstaltninger ikke er forenelige med det indre marked.
The estimate of SIF's financial rating (BB) and of the level of collateral (weak) attached to the loan from FSIH lead the Commission to take the view that a remuneration of 400 basis points would have been required under the 2008 Reference Rate Communication.
TILBAGESØGNING AF STØTTE, SOM ER UFORENELIG MED DET INDRE MARKED
This remuneration is much higher than the 75 basis points negotiated between SIF and FSIH.
Hvis Kommissionen har fastslået, at en støtte er uforenelig med det indre marked, er den i henhold til TEUF og Domstolens faste retspraksis bemyndiget til at afgøre, at den pågældende medlemsstat skal ophæve eller ændre den [63].
Since SIF received an economic advantage under conditions that were not market conditions, the Commission finds that there is aid.
Det er også Domstolens faste retspraksis, at formålet med en stats forpligtelse til at afskaffe en støtte, som ved en afgørelse truffet af Kommissionen er fundet uforenelig med det indre marked, er at genoprette den oprindelige situation [64].
In light of the above, the Commission takes the view that no private lender would have agreed to grant EUR 100 million and EUR 75 million respectively to [the parent company of the Duferco Group at the time] and to SIF under the conditions agreed to by FSIH.
I den sammenhæng har Domstolen fastslået, at dette mål er nået, når modtageren har tilbagebetalt de beløb, der er tildelt som ulovlig støtte, hvorved vedkommende mister den fordel, der var opnået på markedet i forhold til konkurrenterne, og situationen fra tiden før ydelsen af støtte genoprettes [65].
FSIH therefore conferred an economic advantage on the two beneficiaries of the loans by not acting as a private lender, which places the beneficiaries in a more favourable situation than their competitors.
Følgende fastslås i artikel 16, stk. 1, i Rådets forordning (EU) 2015/1589 [66]: »I negative beslutninger om ulovlig støtte bestemmer Kommissionen, at den pågældende medlemsstat skal træffe alle nødvendige foranstaltninger til at kræve støtten tilbagebetalt fra støttemodtageren ….«
Estimate of the amount of aid
Da de omhandlede foranstaltninger blev iværksat i strid med artikel 108 i TEUF og skal betragtes som ulovlig støtte, der er uforenelig med det indre marked, skal de således tilbagesøges for at genoprette markedssituationen fra tiden før ydelsen af støtten.
The amount of aid results from the difference between the rates actually applied (1,99 %) and the rates under application of the 2008 Reference Rate Communication, i.e. 3,502 % (12-month Euribor + 220 basis points) for [the parent company of the Duferco Group at the time] and 4,302 % (12-month Euribor + 400 basis points) for SIF, applied to the period from the day the loans were granted to the day they were repaid early.
I denne sag er støtten blevet ydet til følgende virksomheder: DII (foranstaltning 1), [det selskab, som kontrollerede DPH på daværende tidspunkt] (foranstaltning 2), DSIH (foranstaltning 3), [det selskab, der kontrollerede Duferco-koncernen på daværende tidspunkt] — omdøbt til […] — (foranstaltning 4), SIF (foranstaltning 5) og DLP (foranstaltning 6), alle Duferco-koncernens datterselskaber i forskellige lande.
Thus, the loan to [the parent company of the Duferco Group at the time] was signed on 4 September 2009 for an amount of EUR 30 million, a duration of six years in principle and effective rate of 2,04 % at the time of disbursement.
Disse selskaber eller deres eventuelle retssuccessorer er forpligtet til at tilbagebetale støtte, der er modtaget uretmæssigt.
The amount was then increased by EUR 70 million with an effective rate of 1,99 % at the time of disbursement.
Tilbagebetalingen skal desuden omfatte den periode, hvori der blev tildelt modtagerne en fordel, dvs. fra tidspunktet for støttens tilrådighedsstillelse for modtageren og indtil den faktiske tilbagebetaling, under hensyntagen til kriterierne for definition af den økonomiske fordel og beregningsprincipperne i afsnit 7.1.4.1-7.1.4.5.
The early repayment was made in July 2011.
Som led i opfyldelsen af Belgiens forpligtelse til loyalt samarbejde i forbindelse med tilbagesøgningen skal støtten til [det selskab, der kontrollerede Duferco-koncernen på daværende tidspunkt] — omdøbt til […] — og til SIF navnlig fastsættes mere præcist under tilbagesøgningen på grundlag af oplysninger tilvejebragt af Belgien, herunder især for støtte i form af lån, under hensyntagen til de faktiske datoer for betalinger eller tilbagebetalinger samt til enhver anden relevant omstændighed, som Belgien gør gældende.
The amount of the loan to SIF was EUR 75 million, released in tranches of EUR 20 million (September 2009) and EUR 55 million (December 2009) with an effective interest rate of 1,99 % for both tranches.
De beløb, der skal tilbagebetales, omfatter under alle omstændigheder de skyldige renter, indtil disse faktisk er betalt.
Early repayment was agreed by tranches of principal and interest to be paid in June 2011, then in 2012 and 2013.
KONKLUSION
On the basis of a simplified discounting calculation, by way of illustration, the amount of aid is therefore approximately EUR 2,08 million for the loan to [the parent company of the Duferco Group at the time] and EUR 10,41 million for the loan to SIF [51].
Kommissionen fastslår, at Belgien ulovligt har iværksat de omhandlede støtteforanstaltninger i strid med artikel 108, stk. 3, i TEUF.
Measure 6
Følgende foranstaltninger, som Belgien ulovligt har iværksat i strid med artikel 108, stk. 3, i traktaten om Den Europæiske Unions funktionsmåde, udgør statsstøtte, der er uforenelig med det indre marked:
The Commission takes the view that, like DSIH (Measure 3), DLP is merely a vehicle used by the interested parties, FSIH and DII, to give a pari passu appearance to Duferco's takeover of assets that already belonged to it in part.
salg af aktier i Duferco US Investment Corporation til Duferco Industrial Investment for 11581700 EUR
DLP was set up in March 2011 by FSIH and DII as an ad hoc vehicle to accommodate Duferco's Belgian assets.
salg af aktier i Duferco Participations Holding Limited til [det selskab, som kontrollerede DPH på daværende tidspunkt] for 20362464 EUR
This concerns mainly assets resulting from the dismantling of SIF (of which Duferco held 50 % at the time) and the assets held jointly with FSIH through DSIH.
erhvervelse af aktier i Duferco Salvage Investments Holding til fordel for selskabet for [65-72 mio.]
Although the shell company DLP was formally set up outside the Duferco Group, the Commission takes the view that the simultaneity and the series of transfers of stakes between the different subsidiaries of the Duferco Group between June and July 2011 [52] show that DLP had depended on Duferco since it was established.
EUR
Moreover, and more fundamentally, the Commission notes that the asset situation of the Duferco Group and the underlying risks hardly changed at all following the measure under investigation.
lån til [det selskab, der kontrollerede Duferco-koncernen på daværende tidspunkt] på 2082723 EUR i princippet, for så vidt som den anvendte rentesats på lånet er lavere end 3,502 %
Duferco holds through DLP (i) 50,3 % of the steel assets it already held previously at 50 % through SIF and (ii) 50,3 % of the diversification assets it already held previously at 50 % through DSIH.
lån til Steel Invest & Finance på 10413639 EUR i princippet, for så vidt som den anvendte rentesats på lånet er lavere end 4,302 %
Conversely, the asset situation of FSIH evolved significantly following the measure under investigation.
erhvervelse af aktier i Duferco Long Products til fordel for selskabet for 100000000 mio. EUR.
FSIH acquired 49,7 % of substantial steel-industry assets located in La Louvière and Trebos which had not previously belonged to it.
Artikel 2
In terms of financial commitments, this situation for the Duferco Group can be reflected as follows:
Belgien skal tilbagesøge den i artikel 1 omhandlede uforenelige støtte fra de direkte støttemodtagere eller deres retssuccessorer.
EUR […] million paid out to buy out certain steel-industry assets from SIF via DLP,
Den støtte, der skal tilbagesøges, pålægges renter fra det tidspunkt, hvor den blev udbetalt til støttemodtageren, og indtil den er blevet tilbagebetalt.
EUR […] million received for the sale of the same assets by SIF, which was then a 50 % subsidiary of Duferco,
Beløbet beregnes med renters rente i overensstemmelse med kapitel V i Kommissionens forordning (EF) nr. 794/2004 [67].
EUR […] million of debt towards DSIH through DLP for the purchase of Duferco Diversification,
Artikel 3
EUR […] million in claims on DLP through DSIH for the sale of Duferco Diversification.
Tilbagesøgning af den i artikel 1 omhandlede støtte iværksættes omgående og effektivt.
The net financial contribution of the Duferco Group for its acquisition of a 50,3 % stake in the capital of DLP was EUR […] million.
Belgien efterkommer denne afgørelse senest fire måneder efter meddelelsen heraf.
This amount is out of proportion with the EUR 99,7 million [53] agreed by FSIH to become a 49,7 % shareholder in DLP.
Artikel 4
Under these conditions it cannot be argued that this investment was pari passu.
Belgien forelægger senest to måneder efter meddelelsen af denne afgørelse Kommissionen følgende oplysninger:
The Commission sets out the reasons, beyond the non-pari passu nature of the transaction, why it concluded that the transaction did not comply with the market economy investor principle.
det samlede beløb (hovedstol og renter), som hver enkelt støttemodtager skal tilbagebetale
These reasons relate to how FSIH evaluated its stake in the capital of DLP.
en detaljeret beskrivelse af de foranstaltninger, der allerede er truffet eller er planlagt for at efterkomme afgørelsen
Before going into the detail of these evaluations, the Commission refutes an objection made by […].
dokumentation for, at støttemodtagerne har fået påbud om at tilbagebetale støtten.
According to […], the fact that FSIH did not have access to other documents than DII (private investor) at the time is enough to prove the prudent nature of FSIH's investment.
Belgien holder løbende Kommissionen orienteret om de nationale foranstaltninger, der træffes for at efterkomme denne afgørelse, indtil den i artikel 1 omhandlede støtte er fuldt tilbagebetalt.
For the reasons explained in recital 329, the transaction under investigation was financially almost neutral for the Duferco Group.
Belgien indsender på Kommissionens anmodning straks oplysninger om de foranstaltninger, der allerede er truffet eller er planlagt for at efterkomme afgørelsen.
Therefore the Group did not have any incentive to produce detailed studies and reports: the price of the assets bought by DLP had only a small impact on its cash flow.
Belgien fremsender også detaljerede oplysninger om de støttebeløb og renter, som støttemodtagerne allerede har tilbagebetalt.
This was not the case for FSIH, which had to pay 49,7 % of the price set for these assets.
Artikel 5
Consequently, it was for FSIH and not Duferco to make every possible effort to evaluate the assets at their fair value.
Denne afgørelse er rettet til Kongeriget Belgien.
The fact that Duferco did not have access to documents other than those produced by Belgium does not, in any case, prove that FSIH behaved as a private investor in a market economy.
Udfærdiget i Bruxelles, den 20. januar 2016.
With regard to the content of these evaluations, the Commission points out that four items had to be valued: (i) the shares in DLLPL; (ii) the shares in Duferco Trebos; (iii) the stocks bought from Duferco La Louvière Sales; and (iv) the project justifying an investment of EUR [30-40] million in DLLPL.
På Kommissionens vegne
The Commission takes the view that the Galtier report of May 2011, submitted by Belgium, does not constitute a thorough valuation exercise for DLLPL.
Medlem af Kommissionen
It merely refers to an estimate of the fair value of tangible assets at the La Louvière site and does not deal with any liabilities or any business plan.
Med virkning fra den 1. december 2009 er EF-traktatens artikel 87 og 88 blevet til henholdsvis artikel 107 og 108 i traktaten om Den Europæiske Unions funktionsmåde (»TEUF«).
However, the expert Galtier had informed the Commission, through Belgium, that it had based its estimate on a business plan in due form.
De to sæt bestemmelser er i det væsentlige identiske.
The summary version of this business plan, provided by Belgium [54], is a short document that does not contain any date or refer to any assumptions.
I denne afgørelse skal henvisninger til artikel 107 og 108 i TEUF efter omstændighederne forstås som henvisninger til EF-traktatens artikel 87 og 88.
The Commission did not receive the full version of the business plan, if it ever existed.
Med TEUF er der også indført visse terminologiske ændringer, f.eks. er »Fællesskab« erstattet med »Union«, »fællesmarkedet« med »det indre marked« og »Retten i Første Instans« med »Retten«.
Belgium also put forward the same argument concerning the purchase price of the shares in Duferco Trebos, i.e. that the document ‘Value in use of the tangible and intangible assets of Trebos’ of May 2011 is actually a combination of studies and reports that includes a two-page preliminary business plan drawn up by Duferco [55].
Det er TEUF-terminologien, der anvendes i denne afgørelse.
The completion date of this document is not specified.
EUT C 120 af 23.4.2014, s. 51.
The objective of the 2011 report was to evaluate the assets' value in use and to identify the value of customers in the business assets.
Kommissionen henviser i det følgende til »Belgien« og ikke til »regionen Vallonien« (medmindre sammenhængen tilsiger andet) og til korrespondancen med den medlemsstat, som er omfattet af proceduren, og som denne afgørelse er rettet til.
The accounts were not checked and the company was not audited.
Jf. fodnote 2.
No overall valuation of Duferco Trebos as a whole was provided.
Kommissionens beslutning af 25. november 1997 i sag N 680/97, Belgien — Regionen Valloniens deltagelse i »Duferco Belgium SA«.
Regarding these two acquisitions, Belgium also acknowledges that ‘the parties did not deem it necessary to produce a business plan in due form.
Kommissionens beslutning af 26. maj 1999 i sag N-246/99, Belgien — De belgiske offentlige myndigheders finansielle deltagelse til fordel for virksomheden HUGB, EKSF-stål.
FSIH knew perfectly well what it was acquiring.’
EUT C 95 af 19.4.2002, s. 2.
The Commission considers knowledge of a company to be useful but insufficient for an investor whose decision to invest depends on expected future profitability.
Kommissionens beslutning nr. 2496/96/EKSF af 18. december 1996 om fællesskabsregler for støtte til jern- og stålindustrien (EFT L 338 af 28.12.1996, s. 42).
With regard to the evaluation of the stocks of Duferco La Louvière Sales, a company controlled by SIF, Belgium provided a document that it believes supports the market value of the stocks being higher than their book value, which was adopted to set the sale price.
Kommissionens beslutning 2005/137/EF af 15. oktober 2003 om regionen Valloniens deltagelse i Carsid SA (EFT L 47 af 18.2.2005, s. 28).
Again, the Commission notes that the completion date of this document is not indicated.
Fortrolige oplysninger.
Lastly, with regard to the investment of EUR [30-40] million in DLLPL, the Commission had, in its opening decision, asked Belgium to produce all the studies and business plans concerning this investment.
Duferco La Louvière Sales kontrolleres af SIF.
Belgium confirmed that, ultimately, a single business plan had justified the investment of EUR [30-40] million; the other plans referred to had become irrelevant as they concerned other projects that were not adopted.
Det skal bemærkes, at Ernst & Young har begået en fejl ved at erstatte euro med dollar.
Belgium therefore provided the Commission with an undated, one-page plan with a table of EBITDA up to 2016 with no explanation or assumption to support the numbers presented.
EUT C 14 af 19.1.2008, s. 2.
In the Commission's view, the other documents relied on by Belgium do not make up for this document's shortcomings.
EUT C 83 af 7.4.2009, s. 1.
The document entitled ‘A plan for the future of the steel industry in La Louvière’ from February 2011 details the strategy of continuing activities involving long products and flat products.
Domstolens dom af 16. maj 2002 i sag C-482/99, Frankrig mod Kommissionen, ECLI:EU:C:2002:294, præmis 24.
One page is devoted to the development of DLLPL over the previous five years.
Rettens dom af 4. april 2001 i sag T-288/97, Regione Friuli Venezia Giulia mod Kommissionen, ECLI:EU:T:2001:115, præmis 41.
The document ‘Long Products Marketing Plan 2011-2013’ is limited to a study of the relevant sector.
Domstolens dom af 17. september 1980 i sag 730/79, Philip Morris Holland BV mod Kommissionen, ECLI:EU:C:1980:209, præmis 11 og 12.
It follows from the above that FSIH's investment cannot be considered to be in line with the market economy investor principle.
Domstolens dom af 11. juli 1996 i sag C-39/94, SFEI m.fl. mod La Poste, ECLI:EU:C:1996:285, præmis 60.
The Commission notes that DLP allowed FSIH to again support steel activity in Wallonia without any justification by an economic analysis in line with the market economy investor principle.
Domstolens dom af 5. juni 2012 i sag C-124/10P, Kommissionen mod EDF, ECLI:EU:C:2012:318, præmis 90.
It follows from the above that the investment cannot be considered pari passu and in line with the market economy investor principle.
Bemærkninger fra […] af 23. juni 2014, punkt 24.
The amount of aid received by DLP is therefore the amount of the capital increase, i.e. EUR 100 million.
Jf. fodnote 2 i Belgiens bemærkninger til indledningsafgørelsen af 11. december 2013.
General conclusion on the economic advantage criterion
Rettens dom af 28. februar 2012 i forenede sager T-268/08 og T-281/08, Land Burgenland mod Kommissionen, ECLI:EU:T:2012:90, præmis 72.
After having analysed each measure individually, the Commission took the view that it was necessary to carry out a more general analysis of FSIH's investment strategy since it was set up.
Belgiens bemærkninger af 11. december 2013, punkt 32.
It considers that these measures are inextricably linked to each other and that they work towards a single objective: to support and sustain the Duferco Group's activities in Wallonia, through indirect investments in the Group's offshore subsidiaries in order to circumvent the rules prohibiting aid to the steel sector in the EU.
Domstolens dom af 5. juni 2012 i sag C-124/10 P, Kommissionen mod EDF, ECLI:EU:C:2012:318, præmis 83-85.
The beneficiaries of FSIH's interventions were Duferco's parent company or subsidiaries of the group in the United States (Measure 1), […] (Measure 2), Ireland (Measure 3), […] (Measure 4) and […] (Measures 5 and 6) to finance projects that were carried out in Wallonia, in the Walloon subsidiaries of the group active in the steel sector, then in site decontamination, while the group gradually ceased its steel activities in Wallonia.
Bemærkninger fra […], punkt 42, s. 12.
This analysis is supported by the simultaneity of or short period of time between certain events.
Anmodning om oplysninger den 29. november 2011, den 29. juni 2012 og den 27. januar 2015.
Duferco has been operating in Belgium since 1997, when it took over Forges de Clabecq, which were in financial straits, with support from the Walloon Region and the backing of the Commission (investment of EUR 8,75 million and loan of EUR 13,75 million) [56].
Svar fra Belgien af 4. juni 2013.
The Commission notes that this takeover followed the negative decision by the Commission regarding Forges de Clabecq [57]: the Belgian State's attempt to rescue the same steelworks was judged incompatible with the common market in December 1996.
Svar fra Belgien af 28. september 2012.
The company was therefore declared bankrupt in January 1997.
Bilag 1 til Belgiens svar af 28. september 2012, s. 24 og 6.
There followed a series of takeovers of Walloon steel sites by the Duferco Group, still with the financial support of the Walloon Region through SOGEPA, then FSIH from 2003.