natgillin/translations-raw huggingface dataset:
No overall valuation of Duferco Trebos as a whole was provided.
Belgian on perittävä tuensaajilta tai näiden oikeusseuraajilta takaisin 1 artiklan 1 kohdassa tarkoitetut, sisämarkkinoille soveltumattomat tuet.
Regarding these two acquisitions, Belgium also acknowledges that ‘the parties did not deem it necessary to produce a business plan in due form.
Takaisinperittävistä summista on maksettava korkoa siitä päivästä alkaen, jona ne saatettiin tuensaajien käyttöön, niiden tosiasialliseen takaisinperintään saakka.
FSIH knew perfectly well what it was acquiring.’
Korko lasketaan komission asetuksen (EY) N:o 794/2004 [67] V luvun säännösten mukaisesti.
The Commission considers knowledge of a company to be useful but insufficient for an investor whose decision to invest depends on expected future profitability.
3 artikla
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.
Edellä 1 artiklassa tarkoitettu tuki on perittävä takaisin välittömästi ja tehokkaasti.
Again, the Commission notes that the completion date of this document is not indicated.
Belgian on varmistettava, että tämä päätös pannaan täytäntöön neljän kuukauden kuluessa sen tiedoksi antamisesta.
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.
4 artikla
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.
Belgian on toimitettava kahden kuukauden kuluessa tämän päätöksen tiedoksi antamisesta komissiolle seuraavat tiedot:
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.
kultakin tuensaajalta perittävä kokonaismäärä (pääoma ja korko);
In the Commission's view, the other documents relied on by Belgium do not make up for this document's shortcomings.
yksityiskohtainen kuvaus toimenpiteistä, jotka on jo toteutettu tai joita suunnitellaan tämän päätöksen noudattamiseksi;
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.
asiakirjat, joista käy ilmi, että tuensaajat on määrätty maksamaan tuki takaisin.
One page is devoted to the development of DLLPL over the previous five years.
Belgian on ilmoitettava komissiolle tämän päätöksen täytäntöön panemiseksi toteutettavien kansallisten toimenpiteiden edistymisestä säännöllisesti siihen saakka, kun 1 artiklassa tarkoitetun tuen takaisinperintä on saatettu loppuun.
The document ‘Long Products Marketing Plan 2011-2013’ is limited to a study of the relevant sector.
Sen on annettava viipymättä komission pyynnöstä tiedot toimenpiteistä, jotka on jo toteutettu tai joita suunnitellaan tämän päätöksen noudattamiseksi.
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.
5 artikla
It follows from the above that the investment cannot be considered pari passu and in line with the market economy investor principle.
Tämä päätös on osoitettu Belgian kuningaskunnalle.
The amount of aid received by DLP is therefore the amount of the capital increase, i.e. EUR 100 million.
Tehty Brysselissä 20 päivänä tammikuuta 2016.
General conclusion on the economic advantage criterion
Komission puolesta
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.
Komission jäsen
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.
EY:n perustamissopimuksen 87 artiklasta tuli 1 päivänä joulukuuta 2009 Euroopan unionin toiminnasta tehdyn sopimuksen (SEUT-sopimuksen) 107 artikla ja 88 artiklasta SEUT-sopimuksen 108 artikla.
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.
Kyseiset kaksi määräyskokonaisuutta ovat asiasisällöltään samanlaiset.
This analysis is supported by the simultaneity of or short period of time between certain events.
Tässä päätöksessä tarkoitetaan tarvittaessa viittauksella SEUT-sopimuksen 107 ja 108 artiklaan viittausta EY-perustamissopimuksen 87 ja 88 artiklaan.
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].
EUVL C 120, 23.4.2014, s. 51.
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.
Komissio viittaa tästä lähtien ”Belgiaan” eikä ”Vallonian alueeseen” (jollei asiayhteys edellytä muuta), koska kirjeenvaihto käytiin menettelyn kohteena olevan jäsenvaltion kanssa, jolle tämä päätös on osoitettu.
The company was therefore declared bankrupt in January 1997.
Ks. alaviite 2.
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.
Komission päätös, tehty 25 päivänä marraskuuta 1997, asiassa N 680/97, Belgia – Vallonian alueen rahoitusosuus Duferco Belgique SA -yrityksessä.
In 1999, Duferco acquired Usines Gustave Boël in La Louvière from Hoogovens, with support from the Walloon Region (conversion of a claim of EUR 12,5 million into 25 % of the capital and a loan of EUR 25,3 million) [58].
Komission päätös, tehty 26 päivänä toukokuuta 1999, asiassa N 246/99, Belgia – Belgian viranomaisten rahoitusosuus HUGB-yrityksessä (EHTY-teräs)
Then, following the announcement by the Chairman of the Usinor-Sacilor group in February 2001 that he intended to close down Cockerill Sambre's hot-rolling line in Charleroi, talks were entered into between Usinor-Cockerill Sambre, the Duferco Group and SOGEPA primarily with a view to setting up a joint venture to produce slabs using Cockerill Sambre's existing mill in Charleroi together with the plant owned by Duferco Clabecq.
EYVL C 95, 19.4.2002, s. 2.
In 2002, Duferco took over the hot-phase site in Charleroi, which became Carsid, in cooperation with Usinor, again with support from the Walloon Region (SOGEPA's stake in Carsid's capital was EUR 20 million, reduced to EUR 9 million after the decision to initiate the procedure provided for in Article 6(5) of Decision No 2496/96/ECSC).
Komission päätös N:o 2496/96/EHTY, tehty 18 päivänä joulukuuta 1996, terästeollisuudelle myönnettävää tukea koskevista yhteisön säännöistä (EYVL L 338, 28.12.1996, s. 42).
The Commission notes that FSIH was created in March 2003, i.e. during the Commission's investigations following the adoption of the decision to initiate the formal investigation procedure on 3 April 2002 on the financial participation by the Walloon Region in the company Carsid.
Komission päätös 2005/137/EY, tehty 15 päivänä lokakuuta 2003, Vallonian alueen rahoitusosuudesta Carsid SA -yrityksessä (EUVL L 47, 18.2.2005, s. 28).
This procedure was completed on 15 October 2003 [59] with a negative decision from the Commission on the grounds that an investment in a new company could not be considered pari passu where only the public shareholder bears a new risk, with the private shareholder only transferring a business activity or existing project to the new company.
Luottamuksellinen tieto.
The Commission also notes that, in many cases, the interventions by the Walloon Region in Duferco's favour made it possible to delay adjustments that were socially difficult but economically necessary in the steel sector in Wallonia.
Duferco La Louvière Sales oli SIF:n määräysvallassa oleva yhtiö.
This behaviour, motivated by regional and social considerations of safeguarding employment to the detriment of streamlining and modernising the steel industry, cannot be considered to be that of a private investor.
Ernst & Young on virheellisesti korvannut eurot dollareilla.
Furthermore, the Commission observes that the investment behaviour of FSIH does not correspond to that of a prudent market investor.
EUVL C 14, 19.1.2008, s. 2.
In this case, FSIH's behaviour should be compared to the behaviour that an investment fund manager would adopt.
EUVL C 83, 7.4.2009, s. 1.
Taken as a whole, the investment policy followed by FSIH, as highlighted by this procedure, is not likely to be followed by such a market operator.
Unionin tuomioistuimen tuomio 16.5.2002, Ranska v. komissio, C-482/99, ECLI:EU:C:2002:294, 24 kohta.
A non-speculative investment fund must diversify the risks in its investment portfolio in order to ensure its longevity.
Unionin yleisen tuomioistuimen tuomio 4.4.2001, Regione Friuli Venezia Giulia v. komissio, T-288/97, ECLI:EU:T:2001:115, 41 kohta.
While taking into account the desired performance and profit horizon, the diversification of assets in the portfolio geographically and by sector reduces the volatility of the assets and therefore the investment risk of the portfolio as a whole.
Unionin tuomioistuimen tuomio 17.9.1980, Philip Morris Holland BV v. Komissio, C-730/79, ECLI:EU:C:1980:209, 11–12 kohta.
This diversification does not necessarily have to be extreme, but in this case FSIH concentrated all its investments in a single company.
Unionin tuomioistuimen tuomio 11.7.1996, SFEI ym. v. La Poste, C-39/94, ECLI:EU:C:1996:285, 60 kohta.
Indeed, by investing exclusively in the Duferco Group, FSIH's exposure to risk was at its greatest since the return on investment for FSIH depended on the success or failure of a single company.
Unionin tuomioistuimen tuomio 5.6.2012, komissio v. EDF, C-124/10P, ECLI:EU:C:2012:318, 90 kohta.
It follows, overall, that the investment behaviour of FSIH is an additional indication that its operations do not satisfy the market economy investor test.
[…]:n huomautukset 23 päivänä kesäkuuta 2014, 24 kohta.
In light of the above, the Commission concludes that none of the examined measures complies with the market economy investor principle.
Aloittamispäätöstä koskevat Belgian huomautukset 11 päivänä joulukuuta 2013, alaviite 2.
The conditions of the interventions in each case conferred an advantage on the different entities concerned in the Duferco Group.
Unionin yleisen tuomioistuimen tuomio, 28.2.2012, Land Burgenland v. komissio, T-268/08 ja T-281/08, ECLI:EU:T:2012:90, 72 kohta.
They therefore constitute State aid within the meaning of Article 107(1) TFEU.
Belgian huomautukset 11 päivänä joulukuuta 2013, 32 kohta.
The total amount of aid is therefore EUR 211,43 million, in principle.
Unionin tuomioistuimen tuomio 5.6.2012, komissio v. EDF, C-124/10P, ECLI:EU:C:2012:318, 83–85 kohta.
COMPATIBILITY OF THE AID WITH THE INTERNAL MARKET
[…]:n huomautukset, 42 kohta, s. 12.
The prohibition on State aid is neither absolute nor unconditional.
Tietopyynnöt 29 päivänä marraskuuta 2011, 29 päivänä kesäkuuta 2012 ja 27 päivänä tammikuuta 2015.
In particular, paragraphs 2 and 3 of Article 107 TFEU constitute legal bases allowing some aid measures to be considered compatible with the internal market.
Belgian vastaus 4 päivänä kesäkuuta 2013.
In its response to the Opening Decision, Belgium did not put forward any reason relating to the compatibility of the measures under investigation.
Belgian vastaus 28 päivänä syyskuuta 2012.
The Commission observes that the derogations in Article 107(2) TFEU are clearly inapplicable.
Belgian vastaus 28 päivänä syyskuuta 2012, liite 1, s. 24 ja 6.
Of the derogations in paragraph 3 of this Article, only points (a) and (c) could prove useful.
Tämä on KPMG:n jälkikäteen arvioiman vuoden 2006 käyttökatteen ja vuoden 2006 todellisen käyttökatteen aritmeettinen keskiarvo.
Point (a) stipulates that aid to promote the economic development of areas where the standard of living is abnormally low or where there is serious underemployment may be considered to be compatible with the internal market.
Belgian vastaus 25 päivänä syyskuuta 2015, liite, s. 2.
Point (c) states that aid to facilitate the development of certain economic activities or of certain economic areas, where such aid does not adversely affect trading conditions to an extent contrary to the common interest may also be considered to be compatible with the internal market.
[…] x 49,9 prosenttia FSIH:n omistusosuudesta.
However, no framework or guidelines from the Commission concerning the compatibility criteria relating to State aid seem to be applicable.
Euron dollarikurssi 12 päivänä joulukuuta 2006, eli 0,7550.
Since the ECSC Treaty expired on 23 July 2002, the Commission has adopted various guidelines and communications to maintain the prohibition on regional aid for investment and rescue and restructuring aid to the steel industry.
Belgian vastaus 8 päivänä huhtikuuta 2015, liite 4, s. 6: ”Suunniteltu liiketoimi”.
Thus, paragraph 8 of the Guidelines on National Regional Aid for 2007-2013 [60], the period during which FSIH granted the aid under investigation, explicitly excludes regional aid to the steel industry from their scope and confirms that it is not compatible with the common market.
Belgian vastaus 15 päivänä syyskuuta 2015, s. 2.
Likewise, the Communication on aid for the steel sector [61], which was in force until 31 December 2009, states that rescue and restructuring aid for firms in difficulty in the steel sector is not compatible with the common market.
Belgian vastaus 8 päivänä huhtikuuta 2015, liite 4, s. 7: ”Hinnan perustelut”.
Only aid to cover payments payable by steel firms to workers made redundant or accepting early retirement and aid to steel firms which permanently cease production of steel products is authorised, under certain conditions.
Tietopyyntö 15 päivänä syyskuuta 2015.
The purpose of the aid granted by FSIH does not correspond to the two aforementioned aid categories.
Euron dollarikurssi 14 päivänä kesäkuuta 2006, eli 0,7959.
On the contrary, it was used to finance investments.
Belgian vastaus 5 päivänä tammikuuta 2012, liite 20.
With regard to possible compatibility of the aid granted to SIF under the 2009 Communication, the Commission takes the view that the Communication does not apply to SIF.
Ks. esimerkiksi Belgian vastaus 11 päivänä joulukuuta 2013, 86 kohta.
Point 4.4.2 of the 2009 Communication covers companies having difficulties in finding finance in the market circumstances between December 2008 and December 2010.
Belgian vastaus 4 päivänä kesäkuuta 2013, liite 6: tiivistelmätaulukko kustannuksista ja tuloista.
It does not seem from SIF's comments that it had this type of difficulty.
Unionin yleisen tuomioistuimen tuomio 30.4.1998, Cityflyer Express v. komissio, T-16/96, ECLI:EU:T:1998:78, 51 kohta.
In light of the above, the Commission concludes that the six aid measures under investigation are not compatible with the internal market.
Unionin yleisen tuomioistuimen tuomio, 12.5.2011, Région Nord-Pas-de-Calais v. komissio, T-267/08 ja T-279/08, ECLI:EU:T:2011:209, 161 kohta.
RECOVERY OF AID INCOMPATIBLE WITH THE INTERNAL MARKET
Belgian vastaus 4 päivänä kesäkuuta 2013, liite 13.
In accordance with the TFEU and the settled case-law of the Court of Justice, the Commission is competent, when it has found that aid is incompatible with the internal market, to decide that the State concerned must abolish or alter it [63].
ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Tata Steel Limited, Nucor Corporation, United States Steel Corp., ThyssenKrupp AG, PAO Severstal, NLMK, Kobe Steel Ltd (Standard & Poor'sin luokitus).
The Court has also held on a number of occasions that the obligation to abolish aid incompatible with the internal market which a Commission decision imposes on a Member State has as its purpose to re-establish the previously existing situation [64].
SIF:n huomautusten 28 kohta.
In this context, the Court has established that this aim is achieved once the recipient has repaid the amounts granted by way of unlawful aid, thus forfeiting the advantage which it had enjoyed over its competitors on the market, and the situation prior to payment of the aid is restored [65].
Arvio on saatu laskemalla korot, jotka olisi pitänyt periä viitekorkoja koskevan vuoden 2008 tiedonannon perusteella, ja vähentämällä niistä todellisuudessa sovelletun koron perusteella arvioidut korot sekä diskonttaamalla kukin määrä kyseisessä tiedonannossa esitetyllä korolla.
Article 16(1) of Council Regulation (EU) 2015/1589 [66] lays down: ‘Where negative decisions are taken in cases of unlawful aid, the Commission shall decide that the Member State concerned shall take all necessary measures to recover the aid from the beneficiary …’.
Korkolaskelma ja diskonttaus on kuitenkin tehty summittaisesti, koska laina-ajat on simuloitu (kesto vuosina sen sijaan, että olisi käytetty tarkkaa takaisinmaksupäivää, ja korkojen osittaisen takaisinmaksun huomiotta jättäminen) eikä niissä siksi ole otettu huomioon todellisten takaisinmaksuerien määriä tai aikataulua.
Consequently, since the measures in question were implemented in breach of Article 108 TFEU and must be considered aid that is unlawful and incompatible with the internal market, it must be recovered in order to re-establish the situation that existed on the market before the aid was granted.
Ks. erityisesti tämän päätöksen johdanto-osan 49 kappale.
In this case, the aid was granted to the following companies: DII (Measure 1), [the company that controlled DPH at the time] (Measure 2), DSIH (Measure 3), [the parent company of the Duferco Group at the time] — which became […] — (Measure 4), SIF (Measure 5) and DLP (Measure 6), all subsidiaries of the Duferco Group in different countries.
Komissio on vähentänyt 100 miljoonan euron pääomankorotuksesta FSIH:lle Duferco Diversificationin myynnistä DLP:lle aiheutuneen nettovaikutuksen (– 0,3 miljoonaa euroa).
These companies or their possible legal successors must be required to repay the aid that was unduly received.
Belgian vastaus aloittamispäätökseen, liite 21.
Recovery must also cover the period during which the beneficiaries received an advantage, i.e. between the time when the aid was made available to each beneficiary and when it was actually recovered, having regard to the criteria for defining an economic advantage and the calculation principles defined in Sections 7.1.4.1 to 7.1.4.5.
Belgian vastaus aloittamispäätökseen, liite 23.
In the context of Belgium's obligation of loyal cooperation within the framework of the recovery procedure, the amount of aid granted to [the parent company of the Duferco Group at the time] — which became […] — and to SIF will have to be established more precisely during the procedure, on the basis of information to be supplied by Belgium and taking into account, in particular, for the aid in the form of loans, the actual dates of payments or repayments as well as all other relevant circumstance reported by Belgium.
Komission päätös, tehty 18 päivänä joulukuuta 1996, asiassa 97/271/EHTY, Belgia – Forges de Clabecq (teräs EHTY).
In each case, the amounts to be recovered should include interest due until recovery takes place.
Päätös 2005/137/EY.
CONCLUSION
EUVL C 54, 4.3.2006, s. 13.
The Commission finds that Belgium has unlawfully implemented the aid measures in question in breach of Article 108(3) of the TFEU.
EYVL C 70, 19.3.2002, s. 21.
The Commission considers all the measures under investigation to be State aid incompatible with the internal market,
EUVL C 244, 1.10.2004, s. 2.
HAS ADOPTED THIS DECISION:
Unionin tuomioistuimen tuomio 12.7.1973, komissio v. Saksa, C-70/72, ECLI:EU:C:1973:87, 13 kohta.
Article 1
Unionin tuomioistuimen tuomio 14.9.1994, Espanja v. komissio, C-278/92, C-279/92 ja C-280/92, ECLI:EU:C:1994:325, 75 kohta.
The following measures, unlawfully implemented by Belgium in breach of Article 108(3) of the Treaty on the Functioning of the European Union, constitute State aid incompatible with the internal market:
Unionin tuomioistuimen tuomio 17.6.1999, Belgia v. komissio, C-75/97, ECLI:EU:C:1999:311, 64 ja 65 kohta.
sale of a stake in Duferco US Investment Corporation to Duferco Industrial Investment for EUR 11581700;
Neuvoston asetus (EU) 2015/1589, annettu 13 päivänä heinäkuuta 2015, Euroopan unionin toiminnasta tehdyn sopimuksen 108 artiklan soveltamista koskevista yksityiskohtaisista säännöistä (EUVL L 248, 24.9.2015, s. 9).
sale of a stake in Duferco Participations Holding Limited to [the company that controlled DPH at the time] for EUR 20362464;
Komission asetus (EY) N:o 794/2004, annettu 21 päivänä huhtikuuta 2004, Euroopan yhteisön perustamissopimuksen 93 artiklan soveltamista koskevista yksityiskohtaisista säännöistä annetun neuvoston asetuksen (EY) N:o 659/1999 täytäntöönpanosta (EUVL L 140, 30.4.2004, s. 1).
purchase of a stake in Duferco Salvage Investments Holding, the beneficiary, for EUR [65-72 million].
Belgia pyysi 14 päivänä joulukuuta 2011 päivätyllä kirjeellä vastaamista varten lisäaikaa, joka sille myönnettiin 16 päivänä joulukuuta 2011.
loan to [the parent company of the Duferco Group at the time] for EUR 2082723 in principle, in so far as the interest rate applied to the loan is below than 3,502 %;
Belgia vastasi komission tietopyyntöön 4 päivänä tammikuuta 2012.
loan to Steel Invest & Finance for EUR 10413639 in principle, in so far as the interest rate applied to the loan is below 4,302 %;
Komissio pyysi 29 päivänä kesäkuuta 2012 päivätyllä kirjeellä lisätietoja.
purchase of a stake in Duferco Long Products, the beneficiary, for EUR 100000000 million.
Belgialle lähetettiin viimeinen tietopyyntö 15 päivänä syyskuuta 2015.
Article 2
Belgia pyysi vastaamista varten kuukauden lisäaikaa, joka sille myönnettiin 28 päivänä syyskuuta 2015.
Belgium shall recover the incompatible aid granted referred to in Article 1 from the direct beneficiaries or their legal successors.
Belgia toimitti vastauksensa komissiolle 23 päivänä lokakuuta 2015 päivätyllä kirjeellä.
The amounts to be recovered shall bear interest from the date on which they were placed at the disposal of the beneficiary until the date of their recovery.
FSIH osti samana päivänä viidellä miljoonalla eurolla osto-option erillisyhtiön kahteen osakkeeseen, eli oikeuden hankkia määräysvalta Duferco US:ssä.
The interest shall be calculated on a compound basis in accordance with Chapter V of Commission Regulation (EC) No 794/2004 [67].
Se ei kuitenkaan koskaan käyttänyt tätä optiota.
Article 3
FSIH:lle jaettiin vuonna 2005 osinkona 2,5 miljoonaa Yhdysvaltain dollaria tilikaudelta, joka päättyi 30 päivänä syyskuuta 2004.
Recovery of the aid referred to in Article 1 shall be immediate and effective.
Belgia on todennut huomautuksissaan, että osinko maksettiin 23 päivänä kesäkuuta 2005.
Belgium shall ensure that this Decision is implemented within four months following the date of its notification.
Euron dollarikurssin vuoden 2005 keskiarvon mukaan osinko oli euroina noin 2,01 miljoonaa.
Article 4
Osapuolet eivät noudattaneet Ernst & Young -selvityksessä 2006 määritettyä arvoa.