natgillin/translations-raw huggingface dataset:
IFB’s Chief Executive described the group’s situation; the Management Board then took the following decision: ‘The Board agrees to a contribution of EUR 2,5 million which is required to ensure cash flow requirements and to guarantee the continuity of IFB until the end of October 2002 (this amount constitutes an advance on a likely increase in capital).’
Generalni direktor IFB je predstavil položaj skupine, nakar je upravni odbor sprejel naslednjo odločitev: „Odbor soglaša z denarnim vložkom v višini 2,5 milijona EUR za pokrivanje potreb po denarnih sredstvih in zagotavljanje neprekinjenega delovanja IFB do konca oktobra 2002 (ta znesek naj bi bil predujem pri verjetnem povečanju kapitala).“
During the second half of 2002, following approval by the Management Board, the cash advance of EUR 2500000 was transferred by SNCB to IFB, according to the following timetable:
Po odobritvi upravnega odbora je družba SNCB v drugem polletju 2002 nakazala IFB gotovinski predujem v višini 2500000 EUR po naslednjem razporedu:
transfer of EUR 1000000,
6.8.2002: nakazilo zneska 1000000 EUR,
transfer of EUR 500000.
30.9.2002: nakazilo zneska 500000 EUR.
This advance bore interest at a rate of 3,1 %; it was fully repaid in July 2003.
Za predujem je veljala 3,1-odstotna obrestna mera; predujem je bil v celoti povrnjen julija 2003.
Repayment was in two stages:
Povračilo je potekalo v dveh fazah:
on 15 July 2003, IFB repaid EUR 1500000 of this sum, plus interest of EUR 40422,04;
julija 2003 je IFB vrnila 1500000 EUR tega zneska ter 40422,04 EUR obresti;
on 23 July 2003, the balance of EUR 1000000, plus interest of EUR 26883,35, was repaid by IFB to SNCB.
julija 2003 je IFB vrnila SNCB preostalih 1000000 EUR ter 26883,35 EUR obresti.
On 19 September 2002, IFB’s Chief Executive instructed two auditors to compile a special report in order to evaluate the financial state of the company.
septembra 2002 je generalni direktor IFB naročil dvema revizorjema, da pripravita posebno poročilo o oceni finančnega položaja podjetja.
In light of the conclusions of this report, submitted to IFB on 4 December 2002 and subsequently to SNCB, on 20 December 2002 SNCB’s Management Board gave its consent in principle to underwrite an increase in IFB’s capital.
Na podlagi zaključkov tega poročila, predloženega IFB 4. decembra 2002 in nato še SNCB, je upravni odbor SNCB 20. decembra 2002 dal načelno soglasje za vpis povečanja kapitala IFB.
On 24 December 2002, the Extraordinary General Meeting of Shareholders (‘EGM’) of IFB likewise accepted this proposal.
decembra 2002 je tudi izredna generalna skupščina delničarjev (v nadaljevanju „IGS“) IFB sprejela ta predlog.
IFB’s senior management, with the aid of consultants McKinsey, drew up a restructuring plan for IFB.
Vodstvo IFB je s pomočjo svetovalca McKinseya pripravilo načrt za prestrukturiranje IFB.
This plan, which is described in detail in points 73 to 86 of this decision, was approved by IFB’s Management Board on 23 March 2003.
Načrt za prestrukturiranje, ki je podrobno opisan v točkah od 73 do 86 te odločbe, je upravni odbor odobril 23. marca 2003.
The management of the two companies (IFB and SNCB) subsequently finalised the details for the rescue and restructuring of IFB in a ‘framework agreement on the restructuring of IFB’, which was signed by the two companies on 7 April 2003.
Nato so vodstveni delavci obeh družb (IFB in SNCB) določili podrobnosti reševanja in prestrukturiranja IFB v „okvirni pogodbi o prestrukturiranju IFB“, ki sta jo družbi podpisali 7. aprila 2003.
At a second EGM, IFB shareholders agreed to continuing IFB’s activities on the basis of this framework agreement.
Na drugi IGS so delničarji IFB soglašali z nadaljevanjem dejavnosti IFB na podlagi okvirne pogodbe.
The rescue and restructuring measures in the ‘framework agreement on the restructuring of IFB’ of 7 April 2003
Ukrepi reševanja in prestrukturiranja iz „okvirne pogodbe med SNCB in IFB o prestrukturiranju IFB“ z dne 7. aprila 2003
Article 2 of the framework agreement stipulates that implementation of the measures agreed between the parties will be in two phases, namely a rescue period and a period of restructuring.
Člen 2 okvirne pogodbe določa, da se bodo ukrepi, dogovorjeni med pogodbenicama, izvajali v dveh fazah, to je v obdobju reševanja in obdobju prestrukturiranja.
Terms and conditions governing the rescue measures
Podrobna pravila in pogoji za zagotovitev ukrepov reševanja
Article 3 of the framework agreement provides for the following rescue measures:
Člen 3 okvirne pogodbe predvideva naslednje ukrepe reševanja:
the granting of a recoverable advance of EUR 5 million,
zagotovitev predujma, ki ga je treba povrniti, v višini 5 milijonov EUR,
the granting of a credit facility up to a maximum of EUR 15 million, and
zagotovitev posojila v višini največ 15 milijonov in
the granting of a provisional extension for the payment of IFB’s debts of EUR 63 million in relation to SNCB.
začasna odobritev odloga plačila za dolgove IFB do SNCB v višini 63 milijonov EUR.
The duration of these measures was limited to 12 months; however, they were tacitly extended by mutual agreement by the parties until the date of the increase in capital.
Trajanje ukrepov je bilo omejeno na 12 mesecev; vendar so bili ukrepi s tihim soglasjem pogodbenic podaljšani do datuma povečanja kapitala.
The interest rate on the recoverable advance and the sums deducted against the credit facility is equivalent to the reference interest rate applied by the Commission for State aid.
Obrestna mera za predujem, ki ga je treba povrniti, in zneske, črpane iz kreditne postavke, je enaka referenčni obrestni meri, ki jo Komisija uporablja za državno pomoč.
The interest is capitalised, and payment is made at the same time as the payment of the debts due.
Obresti bodo pripisane glavnici in se bodo plačevale hkrati z zapadlimi obveznostmi.
The debts of EUR 63 million are subject to conventional late payment interest of 5,4 %.
Za dolgove v višini 63 milijonov EUR veljajo običajne 5,4-odstotne zamudne obresti.
The interest is capitalised and paid at the same time as the payment of the principal debt.
Obresti bodo pripisane glavnici in se bodo plačevale hkrati z odplačilom glavnice.
The interest owed to SNCB by IFB for the debts and the credit facility was EUR 2,2 million in 2002, EUR 3,9 million in 2003, EUR 4,7 million in 2004, and EUR 5,2 million in 2005, and will be EUR 4,4 million in 2006.
Obresti, ki jih je IFB dolgovala SNCB za dolgove in posojilo, so znašale 2,2 milijona EUR leta 2002, 3,9 milijona EUR leta 2003, 4,7 milijona EUR leta 2004, 5,2 milijona EUR leta 2005 in bi leta 2006 znašale 4,4 milijona EUR.
Article 7 of the agreement provides that IFB relinquishes the time-barring of its debts to SNCB.
Člen 7 pogodbe predvideva, da se IFB odpove zastaranju dolgov do SNCB.
Terms and conditions governing the restructuring measures
Podrobna pravila in pogoji za zagotovitev ukrepov prestrukturiranja
Article 4 of the framework agreement, ‘Terms governing the package of measures “restructuring measures”’, is worded as follows:
Člen 4 okvirne pogodbe z naslovom „podrobna pravila za zagotovitev svežnja ‚ukrepi prestrukturiranja‘“ se glasi:
‘The Parties confirm their intention to implement the following measures insofar as they conform to a restructuring plan approved by their two Boards of Directors, by the Belgian State and if necessary by the EC, and subject to the approval of IFB’s shareholders:
„Pogodbenici potrjujeta svoj namen, da bosta izvajali naslednje ukrepe, če so v skladu z načrtom za prestrukturiranje, odobrenim s strani obeh upravnih odborov, Belgije in, če je treba, ES, in pod pogojem, da jih potrdijo delničarji IFB:
The conversion into capital of a recoverable advance of EUR 5 million,
pretvorba predujma v znesku 5 milijonov EUR, ki jih je treba vrniti, v kapital
The conversion into capital of the credit facility for a maximum amount deducted of EUR 15 million […],
pretvorba dela črpanega posojila v kapital največ do zneska 15 milijonov EUR […]
The conversion into capital of debts of […] EUR 63 million,
pretvorba dolgov v višini 63 milijonov EUR […] v kapital
Potentially and on the condition that the two parties are in agreement on the matter, an additional increase in capital […]’.
pod pogojem, da se s tem strinjata obe pogodbenici, morebitno dodatno povečanje kapitala […]“
The implementation of this increase in capital is subject to a condition precedent, provided for in Article 5 of the framework agreement, namely Commission approval in the light of State aid rules.
Za izvajanje tega povečanja kapitala velja odložilni pogoj iz člena 5 okvirne pogodbe, to je odobritev Komisije glede na pravila o državni pomoči.
Article 5 is worded as follows:
Člen 5 se glasi:
‘The commitments entered into by SNCB […] are subject to the following condition precedent.
„Za pogodbene obveznosti SNCB […] velja naslednji odložilni pogoj.
The parties will ask the Belgian State to notify the EC of this framework agreement as swiftly as possible.
Pogodbenici prosita Belgijo, naj to okvirno pogodbo čim hitreje posreduje ES.
The parties will also ask The Belgian State, in the event that the EC has good reason to consider within the context of this communication that the [framework agreement] includes the granting of State aid (as referred to in Article 87 of the EC Treaty, to notify the [framework agreement] under Article 88(3) of the EC Treaty.
Pogodbenici prav tako prosita Belgijo, naj v primeru, da bi ES v okviru tega sporočila upravičeno menila, da [okvirna pogodba] vsebuje dodelitev državne pomoči (v skladu s členom 87 Pogodbe ES), priglasi [okvirno pogodbo] na podlagi člena 88(3) Pogodbe ES.
In order to enable the EC to adopt a position, [the framework agreement] will at all events not be implemented within a period of 15 working days from the date of notification to the EC.
Da bi ES lahko sprejela svoje stališče, se [okvirna pogodba] v nobenem primeru ne bo začela izvajati v 15 delovnih dneh po priglasitvi ES.
If [the framework agreement] is considered by the EC to be global State aid, it will not be implemented until the EC has explicitly or implicitly approved the aid concerned and, where appropriate, subject to the limits and according to the conditions set out in the approval provision.
Če bo ES [okvirno pogodbo] upravičeno opredelila kot globalno državno pomoč, se bo pogodba začela izvajati po tem, ko bo ES eksplicitno ali implicitno odobrila zadevno pomoč in, če bo potrebno, v mejah in pod pogoji, določenimi v odobritvi.
Should the EC consider [the framework agreement] partially or totally to constitute State aid, and in the event that and insofar as this aid is declared incompatible with the common market, the parties would then discuss in good faith the feasibility of any additional measures requested in respect of IFB, but with no obligation to implement these additional or adjusted measures if the circumstances in which the aid must be given are considered to be absolutely unjustified.’
Če bo ES [okvirno pogodbo] delno ali v celoti opredelila kot državno pomoč in jo zato označila kot nezdružljivo s skupnim trgom, bosta pogodbenici po najboljši vesti obravnavali izvedljivost morebitnih dodatnih ukrepov, zahtevanih za IFB, vendar brez obvezne izvršitve teh dodatnih ali prilagojenih ukrepov, če bi bile okoliščine za zagotavljanje pomoči označene kot neupravičene.“
Belgian civil law provides that, once the condition precedent is fulfilled, the agreement is valid retroactively.
Belgijsko civilno pravo določa, da je, potem ko je odložilni pogoj izpolnjen, pogodba retroaktivno veljavna.
In their reply to the initiating letter, the Belgian authorities informed the Commission that the capital increase will be made exactly as agreed between the parties in the framework agreement, if the Commission approves it.
V odgovoru na dopis o sprožitvi postopka so belgijski organi sporočili Komisiji, da se bo povečanje kapitala izvedlo natančno po dogovoru podpisnic okvirne pogodbe, če jo bo Komisija odobrila.
It will be EUR 95,3 million, made up as follows:
Povečanje bo znašalo 95,3 milijona EUR, razdelitev zneska pa je naslednja:
Conversion into capital of the credit facility
Pretvorba posojila v kapital
Conversion into capital of IFB’s debts to SNCB
Pretvorba dolgov IFB do SNCB v kapital
Conversion into capital of the interest accumulated for the credit facility and debts in the years 2002 to 2006 (only partly for 2006)
Pretvorba natečenih obresti posojila in dolgov od leta 2002 do leta 2006 (za leto 2006 samo del dolgov) v kapital
The Belgian authorities informed the Commission that the increase will not concern the total amount of interest accumulated in 2006, in order to ensure that IFB’s debt to equity ratio corresponds to the average level of its competitors, and is not greater.
Belgijski organi so Komisiji sporočili, da povečanje ne bo vključevalo vseh natečenih obresti v letu 2006, zato da bi razmerje med dolgovi in lastnim kapitalom IFB ustrezalo povprečju njenih konkurentov in ga ne bi preseglo.
It also no longer includes the recoverable advance, since IFB has not made use of this facility.
Prav tako ne vključuje predujma, ki ga je treba vrniti, ker ga IFB ni uporabila.
In their reply to the letter initiating the procedure, the Belgian authorities also informed the Commission that they were withdrawing the notification of 28 January 2005, in which they had informed the Commission of SNCB’s and IFB’s intention, in addition to what was provided for in Article 4 of the framework agreement, to proceed with an increase in additional capital of EUR 5 million by a contribution in kind of a 47 % shareholding in the company TRW [6] by SNCB.
V odgovoru na dopis o sprožitvi postopka so belgijski organi tudi obvestili Komisijo, da umikajo priglasitev z dne 28. januarja 2005, s katero so obvestili Komisijo, da nameravata SNCB in IFB poleg povečanja iz člena 4 okvirne pogodbe dodatno povečati kapital za 5 milijonov EUR s stvarnim vložkom 47-odstotnega deleža SNCB v družbi TRW [6].
The restructuring plan comprised two parts, which correspond to two different strategies concerning on the one hand the group’s French subsidiaries and on the other hand the Belgian activities of IFB.
Načrt za prestrukturiranje je sestavljen iz dveh delov, ki ustrezata različnima strategijama za francoske hčerinske družbe v skupini po eni strani in za belgijske dejavnosti IFB po drugi strani.
The strategy selected for France is the complete divestiture of its shareholdings, whereas the strategy selected for Belgium is the restructuring of the company with a view to continuing its operations.
Strategija za Francijo je popoln umik kapitalskih udeležb, medtem ko je strategija za Belgijo prestrukturiranje družbe za nadaljevanje njenega poslovanja.
The divestiture of the subsidiaries operating the terminals in France
Umik naložb iz hčerinskih družb, ki upravljajo terminale v Franciji
As explained in this decision and, in more detail, in points 30 onwards in the letter initiating the procedure, IFB pursued a strategy of divestiture of its French subsidiaries.
Kot je razloženo v tej odločbi in bolj podrobno od točke 30 naprej v dopisu o sprožitvi postopka, je IFB izvajala strategijo umika iz francoskih hčerinskih družb.
This policy was achieved by selling the shareholding in NFTI-ou in November 2006.
Ta politika se je zaključila novembra 2006 s prodajo deleža pri NFTI-OU.
The total cost of divestiture of the IFB subsidiaries in France amounted to EUR 39,1 million. The following table reproduces the allocation of these costs in relation to the five subsidiaries.
Skupni stroški dezinvesticije hčerinskih družb IFB v Franciji so znašali 39,1 milijona EUR. Naslednja razpredelnica povzema porazdelitev stroškov glede na pet hčerinskih družb.
The net borrowing requirements and the figures concerning the various companies are explained in further detail in the following points.
Potrebe po financiranju in številke v zvezi z različnimi družbami so bolj podrobno predstavljene v točkah v nadaljevanju.
Divestiture of french shareholdings: Summary of costs incurred
Dezinvesticije francoskih kapitalskih udeležb: Povzetek nastalih stroškov
(in M EUR)
(v milijonih EUR)
TOTAL INVESTMENTS
SKUPNI ZNESEK KAPITALSKIH UDELEŽB
Capital depreciation on debts
Izguba vrednosti terjatev
Capital depreciation on investments
Izguba vrednosti kapitalskih udeležb
Total cost
Skupaj stroški
Interest due on 30.6.2006
Obresti na dan 30.6.2006
Current account fluctuation 9.2002 – 12.2002
Fluktuacija na tekočem računu 9.2002 – 12.2002
Capital appreciation on SSTD sale
Kapitalski dobiček od prodaje SSTD
Total cost of divestiture of French investments
Skupaj stroški dezinvesticij francoskih kapitalskih udeležb
Net borrowing requirement
Potreba po financiranju
A sum of EUR 31,1 million corresponding to the capital losses on debts, capital losses on shareholdings together with the increase in capital of NFTI-ou of EUR 1,7 million;
znesek v višini 31,1 milijona EUR, ki ustreza izgubi vrednosti terjatev in kapitalskih udeležb ter povečanju kapitala NFTI-ou v znesku 1,7 milijona EUR;
A sum of EUR 7,7 million in outstanding interest corresponding to the amount of interest accumulated between the end of 2002 and 30 June 2006 on behalf of the recoverable advance and the extension for payment which served to finance the divestiture;
znesek zapadlih obresti v višini 7,7 milijona EUR, ki ustreza znesku natečenih obresti od konca leta 2002 do 30. junija 2006 za dele predujma, ki ga je treba vrniti, in za odlog plačila za financiranje dezinvesticij;
A sum of EUR – 0,2 million corresponding to the capital appreciation on the sale of SSTD;
znesek v višini – 0,2 milijona EUR, ki ustreza kapitalskemu dobičku od prodaje SSTD;
A sum of EUR 0,5 million corresponding to the difference between the accounting statements of 27 September 2002 and the amount of the actual capital depreciation accounted for on 31 December 2002.
znesek v višini 0,5 milijona EUR, ki ustreza razliki med bilancami stanja na dan 27. septembra 2002 in znesku realne računovodske izgube vrednosti na dan 31. decembra 2002.
The borrowing requirement for the divestiture of IFB’s shareholdings in France has been financed by SNCB.
Potrebo po financiranju dezinvesticij IFB v Franciji je krila družba SNCB.
The company Acimar achieves its total turnover from a transport contract with the company Arcelor.
Družba Acimar je ves promet ustvarila na podlagi pogodbe o prevozu za družbo Arcelor.
This contract expired on 31 December 2005; at the time of the IFB audit in the second half of 2002, the contract was generating annual losses […] [7].
Ta pogodba je potekla 31. decembra 2005; v času revizije IFB v drugi polovici leta 2002 je ta pogodba prinašala letno izgubo […] [7].
Since attempts to renegotiate this contract with Arcelor have failed, SNCB has decided to file for Acimar’s bankruptcy, and to seek legal redress.
Ker so poskusi obnovitve pogajanj o pogodbi z družbo Arcelor spodleteli, se je SNCB odločila, da bo za Acimar uvedla stečajni postopek in zahtevala prisilno poravnavo.
IFB has non-recoverable debts in respect of Acimar of EUR 3,9 million, which constitute the cost of divestiture.
Družba IFB je imela do družbe Acimar 3,9 milijona EUR neizterljivih terjatev, ki predstavljajo stroške dezinvesticije.
As regards NFTI-ou, which was a company controlled jointly by IFB and Port Autonome de Dunkerque (Port of Dunkerque Authority), and operated the terminals in the port of Dunkerque, SNCB opted for divestiture by selling its shareholding.
Pri NFTI-ou, ki je bila družba pod skupnim nadzorom IFB in Port Autonome de Dunkerque (upravljavec terminalov v pristanišču Dunkerque), se je SNCB odločila za dezinvesticijo s prodajo svojega deleža.
IFB’s shareholding in NFTI-ou required IFB, under the terms of a letter of intent, to finance a share of the losses corresponding to its shareholding in the company.
Delež IFB v NFTI-ou je v skladu s pismom o nameri za IFB pomenil obveznost, da financira del izgube v sorazmerju z njenim deležem v družbi.
Furthermore, IFB guaranteed security for a bank loan to the company with […], which had a value of EUR 2,9 million.
Poleg tega je bila IFB tej družbi porok za bančno posojilo pri […] v vrednosti 2,9 milijona EUR.
In order to divest its shareholding in the company, IFB negotiated with Port Autonome de Dunkerque the lifting of the commitments resulting from the letter of intent.
Da bi umaknila svoj delež v družbi, je IFB v pogajanjih s Port autonome de Dunkerque dosegla odpravo obveznosti iz pisma o nameri.
IFB and Port Autonome de Dunkerque subsequently sought and found a buyer, CMA-CGM, for the IFB shares […].
IFB in Port Autonome de Dunkerque sta potem iskala in tudi našla prevzemnika, CMA-CGM, za deleže IFB.[…].
Taking the selling price into consideration, the total cost of divestiture for IFB was EUR 18,5 million, comprising EUR 1,7 million for the increase in capital and EUR 16,7 million for the depreciation in capital realised by the shareholding.
Glede na prodajno ceno so skupni stroški dezinvesticije za IFB znašal 18,5 milijona EUR, od tega 1,7 milijona EUR za povečanja kapitala in 16,7 milijonov EUR zaradi izgube vrednosti kapitalske udeležbe.
Before the sale, IFB was obliged to abandon its debts on IFB France totalling EUR 0,8 million. The total cost of divestiture of IFB France was therefore EUR 0,9 million.
Pred prodajo je IFB morala odstopiti od svojih terjatev do IFB France v vrednosti 0,8 milijona EUR. Skupni stroški dezinvesticije iz IFB France so torej znašali 0,9 milijona EUR.
IFB’s shareholding in Dry Port Dunkerque was characterised by the same features as its shareholding in NFTI-ou: a letter of intent obliged IFB to make good the company’s operating losses.
Delež IFB v Dry Port Dunkerque ima isto posebnost kot njen delež v NFTI-ou: pismo o nameri je zavezovalo IFB, da krije izgube iz poslovanja družbe.
IFB divested this shareholding by liquidation and by selling some of its assets, namely its 8,6 % shareholding in NFTI-ou held by Dry Port Dunkerque.
IFB je ta delež dezinvestirala z likvidacijo v povezavi s prodajo dela premoženja, to je 8,6-odstotnega deleža Dry Port Dunkerque v NFTI-ou.
Here, contrary to the situation in NFTI-ou, IFB’s partners could not insist that the company should continue in business.
V nasprotju s položajem v NFTI-ou partnerji IFB niso mogli zahtevati nadaljnjega obstoja družbe.
IFB could not realise its debts on Dry Port Dunkerque (EUR 2,8 million), and had to accept the capital depreciation of its shareholding (EUR 5,1 million).
IFB ni mogla unovčiti svojih terjatev do Dry Port Dunkerque (2,8 milijona EUR) in je morala sprejeti izgubo vrednosti svojega deleža (5,1 milijona EUR).
The total cost of the liquidation was therefore EUR 7,9 million.
Skupni stroški likvidacije so torej znašali 7,9 milijona EUR.
The company SSTD is a profitable company.
SSTD je dobičkonosna družba.
Following the loss of its main client and in view of the strategic decision to exit the French market, IFB decided to sell it at the beginning of 2005, which generated a small profit.
Po izgubi glavne stranke in glede na strateško odločitev o izstopu s francoskega trga se je IFB v začetku leta 2005 odločila, da jo proda, kar je prineslo manjši dobiček.
The restructuring plan for the continuation of activities in Belgium
Načrt za prestrukturiranje za nadaljevanje belgijskih dejavnosti
IFB drafted a plan with consultants McKinsey for the restructuring of IFB’s activities in Belgium.
Družba IFB je skupaj s svetovalcem McKinseyem pripravila načrt za prestrukturiranje belgijskih dejavnosti IFB.
This restructuring plan was in two parts:
Načrt za prestrukturiranje predvideva dva dela:
Restructuring of ‘IFB Logistics’,
prestrukturiranje dejavnosti „IFB Logistics“,
Restructuring of ‘IFB Terminals’.
prestrukturiranje dejavnosti „IFB Terminals“.
The essential idea behind this plan is to limit the activities of IFB to its core business, that is to say the logistics activities and the operation of the terminals in Belgium, and to divest and sell the activities which are not essential to the economic viability of the core business.
Bistvena ideja tega načrta je omejiti dejavnosti IFB na njene glavne dejavnosti, to so logistične storitve in upravljanje terminalov v Belgiji, ter umakniti naložbe in prodati dejavnosti, ki niso nujne za sposobnost gospodarskega preživetja glavnih dejavnosti.