natgillin/translations-raw huggingface dataset:
In October 2010 and October 2011 PCC also informed the Commission that the state-owned electricity supplier SC Electrica SA (hereinafter: ‘Electrica’) and other publicly owned creditors (Salrom Exploatarea Minieră Rm. Vâlcea, a salt solution and limestone supplier; and SC CET Govora SA, a supplier of industrial steam) have substantial rescheduled claims vis-à-vis Oltchim.
Oktobra 2010 in oktobra 2011 je podjetje PCC Komisijo prav tako obvestilo, da imajo dobavitelj električne energije SC Electrica SA (v nadaljnjem besedilu: Electrica), ki je v državni lasti, in drugi upniki v javni lasti (Salrom Exploatarea Minieră Rm. Vâlcea, dobavitelj raztopine natrijevega klorida in apnenca; in SC CET Govora SA, dobavitelj industrijske pare) znatne prerazporejene terjatve do podjetja Oltchim.
ROMANIA'S COMMENTS ON THE OBSERVATIONS OF INTERESTED PARTIES
PRIPOMBE ROMUNIJE NA UGOTOVITVE ZAINTERESIRANIH STRANI
In its reply of 8 April 2010 to the observations of interested parties, Romania largely refers to the notification and its earlier comments submitted in response to the opening decision.
V svojem odgovoru z dne 8. aprila 2010 v zvezi z ugotovitvami zainteresiranih strani se Romunija v veliki meri sklicuje na priglasitev in svoje predhodne pripombe, poslane v odgovor na sklep o začetku postopka.
In particular, Romania claimed that, contrary to what one of the third parties alleges, the acquisition and revamping of the Arpechim petrochemical assets includes all necessary restructuring and is essential for the long-term viability of the company, and that the operation of the integrated Oltchim-Arpechim petrochemical unit platform can be expected to generate profits.
Romunija zlasti trdi, da prevzem in prenova petrokemičnih sredstev podjetja Arpechim – v nasprotju s tem, kar trdi ena izmed strank – vključuje vse potrebno prestrukturiranje, ki je nujno za dolgoročno sposobnost preživetja podjetja, in da se od delovanja integrirane platforme petrokemične enote podjetij Oltchim-Arpechim lahko pričakuje ustvarjanje dobička.
Romania also repeats its arguments that the actions taken for the enforcement of the receivables against Oltchim did not confer any advantage on Oltchim.
Romunija še ponovi argumente, da sprejeti ukrepi glede izvršbe terjatev do podjetja Oltchim ne pomenijo nikakršnih prednosti za podjetje Oltchim.
Finally, Romania also insisted on its intention to privatise Oltchim.
Romunija vztraja tudi pri svojih trditvah glede nameravane privatizacije podjetja Oltchim.
WITHDRAWAL OF THE NOTIFICATION WITH RESPECT TO THE STATE GUARANTEE (MEASURE 2)
PREKLIC PRIGLASITVE V ZVEZI Z DRŽAVNIM JAMSTVOM (UKREP 2)
According to Article 8 of Council Regulation (EC) No 659/1999 of 22 March 1999 laying down detailed rules for the application of Article 93 of the EC Treaty [20], a Member State may withdraw the notification after the opening of the formal investigation procedure in due time before the Commission has taken a decision on the aid character of the notified measure.
V skladu s členom 8 Uredbe Sveta (ES) št. 659/1999 z dne 22. marca 1999 o podrobnih pravilih uporabe člena 93 Pogodbe ES [20] lahko država članica pravočasno prekliče priglasitev po sprejetju sklepa o začetku formalnega postopka preiskave, preden Komisija sprejme sklep o naravi pomoči priglašenega ukrepa.
In such a case, the Commission will close the procedure with a decision declaring the matter moot.
V takšnem primeru bo Komisija postopek zaključila s sklepom, da je zadeva brezpredmetna.
The Romanian authorities have withdrawn the notification with respect to the state guarantee (covering 80 % of a loan up to EUR 424 million).
Romunski organi so preklicali priglasitev v zvezi z državnim jamstvom (ki krije 80 % posojila v višini 424 milijonov EUR).
Thus, as regards Measure 2, the Commission’s investigation has become moot.
Tako je postopek preiskave Komisije v zvezi z ukrepom 2 postal brezpredmeten.
ROMANIA'S POSITION AFTER THE WITHDRAWAL OF MEASURE 2
STALIŠČE ROMUNIJE PO PREKLICU UKREPA 2
Modification of measure 1 - Romania's intention to privatise
Preoblikovanje ukrepa 1 – namera Romunije za privatizacijo
In February 2011, a joint EU/International Monetary Fund (hereinafter: ‘IMF’) precautionary financial assistance programme was requested to support the re-launch of economic growth in Romania with a focus on structural reforms, while improving fiscal sustainability and consolidating financial stability.
Februarja 2011 je finančni program za skupno preventivno pomoč EU/Mednarodnega denarnega sklada (v nadaljnjem besedilu MDS) prejel zahtevo za pomoč pri ponovnem zagonu gospodarske rasti v Romuniji s poudarkom na strukturnih reformah z izboljšanjem proračunske vzdržnosti in s konsolidacijo finančne stabilnosti.
In May 2011, the Council adopted a decision [21] to make available to Romania precautionary medium-term financial assistance of up to EUR 1,4 billion. In March 2011, the IMF approved a new Precautionary Stand-By Arrangement [22] for Romania.
Maja 2011 je Svet sprejel sklep [21], s katerim bi bila Romuniji na voljo preventivna srednjeročna finančna pomoč v višini največ 1,4 milijarde EUR. Marca 2011 je MDS Romuniji odobril nov finančni aranžma „stand-by“ [22].
Under this Agreement, the IMF places at Romania's disposal SDR 3090,6 million (EUR 3,5 billion) of financial assistance for the next two years.
V skladu s tem sporazumom je MDS Romuniji namenil finančno pomoč v višini 3090,6 milijona SDR (3,5 milijarde EUR) za naslednji dve leti.
The financing is conditional upon Romania meeting a series of targets for reducing budgetary deficit, specified in a Letter of Intent presented by the Romanian authorities and reflected in a Technical Memorandum of Understanding (hereinafter: ‘TmoU’).
Pogoj za financiranje je, da Romunija sprejme niz ciljev za zmanjšanje proračunskega primanjkljaja, določenih v pismu o nameri in predstavljenih s strani romunskih organov v Tehničnem memorandumu o soglasju (v nadaljnjem besedilu: TmoS).
The TMoU targets include inter alia reductions of payment arrears and losses for publicly owned enterprises.
Cilji TMoS med drugim vključujejo zmanjšanje zaostalih plačil in izgub za družbe v javni lasti.
In the Letter of Intent and the TMoU of 2 December 2011 [23], Romania committed to announce the privatisation tender for Oltchim by the end of April 2012.
V pismu o nameri in TmoS z dne 2. decembra 2011 [23] se je Romunija zavezala k najavi razpisa za privatizacijo podjetja Oltchim do konca aprila 2012.
This followed several public statements by the Romanian authorities that were made in the course of 2011 declaring the Romanian Government's intention to privatise Oltchim.
V letu 2011 so temu sledile številne javne izjave romunskih organov, da namerava romunska vlada privatizirati podjetje Oltchim.
Romania also declared its commitment to privatise Oltchim vis-à-vis the Commission.
Romunija je svojo zavezo za privatizacijo podjetja Oltchim dala tudi Komisiji.
In the light of its budgetary constraints, Romania therefore no longer intends to remain the owner of Oltchim and finance the necessary investments through a state guarantee, but seeks to sell its shareholding in Oltchim.
Zaradi proračunskih omejitev Romunija torej ne namerava več ostati lastnica podjetja Oltchim in financirati potrebnih investicij prek državnih jamstev, ampak želi svoj delež v podjetju Oltchim prodati.
Developments regarding measure 3 - the interest agreement
Razvoj dogodkov glede ukrepa 3 – sporazum o obrestih
By letter of 9 September 2011 the Romanian authorities informed the Commission that they intended to charge interest on the due AVAS debt amounting to RON 538 million as from 1 January 2007.
Z dopisom z dne 9. septembra 2011 so romunski organi Komisiji sporočili, da nameravajo zaračunavati obresti na zapadle terjatve agencije AVAS, ki so od 1. januarja 2007 narasle na 538 milijonov RON.
Romania also explained that this would take place within a debt convention agreement between AVAS and Oltchim whereby the company would accept the interest due.
Romunija je tudi pojasnila, da bo to potekalo na podlagi sporazuma o pretvorbi dolga med agencijo AVAS in podjetjem Oltchim, s katerim bo podjetje sprejelo zapadle obresti.
In the same letter the Romanian authorities indicated that the interests thus accrued was also to be converted into equity, along with the main public debt, as notified under measure 1.
V istem dopisu so romunski organi navedli, da bodo tako nastale obresti tudi pretvorili v lastniški kapital, skupaj z glavnim javnim dolgom, kot je navedeno v ukrepu 1.
By letter of 23 December 2011, the Romanian authorities provided a copy of the private law agreement concluded on 22 December 2011 between AVAS and Oltchim, whereby the company acknowledged the interest accruing on the public debt from 1 January 2007 until 31 December 2011 amounting to a total of RON 511 million.
Z dopisom z dne 23. decembra 2011 so romunski organi posredovali kopijo civilnopravnega sporazuma, sklenjenega 22. decembra 2011 med agencijo AVAS in podjetjem Oltchim, s katerim je podjetje priznalo obresti na javni dolg, nastale med 1. januarjem 2007 in 31. decembrom 2011 v skupni vrednosti 511 milijonov RON.
The Romanian authorities explained that the interest was calculated on a compound basis, using as default interest for the relevant periods the highest of the interest rates charged by the commercial banks for the loans granted effectively to the company since 1 January 2007 and using the applicable Commission reference and discount rates.
Romunski organi so pojasnili, da so bile obresti izračunane na podlagi obrestnoobrestnega računa, in sicer so bile za zamudne obresti določenega obdobja vzete najvišje stopnje obresti komercialnih bank za posojila, dana podjetju v času od 1. januarja 2007, ter skladne z referenčnimi in diskontnimi stopnjami Komisije.
This approach resulted in the following applicable interest rates and accrued interest on the AVAS debt:
Ta pristop je pripeljal do naslednjih veljavnih obrestnih stopenj in natečenih obresti na terjatve agencije AVAS:
Breakdown of the interest charged by AVAS for the period 2007-2011
Razčlenitev obresti, zaračunanih s strani agencije AVAS za obdobje od 2007 do 2011
Applicable interest rate
Veljavna obrestna mera
Interest amount (rounded to RON million)
Znesek obresti (zaokrožen na milijone RON)
Total interest on AVAS debt since 2007: RON 511 million
Skupne obresti na terjatve agencije AVAS od leta 2007: 511 milijonov RON
In the same correspondence, the Romanian authorities also stated that preparations for implementing the AVAS debt conversion amounting to RON 538 million plus the interest accrued thereon were to be launched with a view to complying with the privatisation timeline proposed.
V istem dopisu so romunski organi tudi navedli, da bodo priprave za izvedbo pretvorbe terjatev agencije AVAS v višini 538 milijonov RON ter natečenih obresti potekale tako, da bi dosegli skladnost s predlaganim časovnim načrtom privatizacije.
Romania's arguments in view of the privatisation intention
Romunski argumenti glede nameravane privatizacije
As explained above, the Romanian authorities withdrew measure 2 (see section VII above).
Kot je pojasnjeno zgoraj, so romunski organi preklicali ukrep 2 (glej oddelek VII).
Following withdrawal of the notification with respect to the state guarantee, the Romanian authorities argued that the current measure 1, i.e. the conversion into equity of the AVAS debt amounting to RON 538 million plus the interest accruing on the AVAS debt from 1 January 2007 to 31 December 2011, amounting to an additional sum of RON 511 million, did not constitute state aid within the meaning of Article 107(1) TFEU.
Po preklicu priglasitve v zvezi z državnim jamstvom so romunski organi trdili, da veljavni ukrep 1, torej pretvorba terjatev agencije AVAS v višini 538 milijonov RON plus obresti, ki so nastale v obdobju od 1. januarja 2007 do 31. decembra 2011 v dodatni skupni višini 511 milijonov RON, v lastniški kapital, ne pomeni državne pomoči v smislu člena 107(1) PDEU.
Romania argued that the measure would be in keeping with the market and as such would not confer an advantage on Oltchim.
Romunija je trdila, da je ukrep skladen s trgom in kot tak ne predstavlja prednosti za podjetje Oltchim.
More specifically, the Romanian authorities argued that the creditor AVAS was better off by converting the entire debt into equity and selling its entire stake in the company in the short term than by enforcing the debt, as the market value of the resulting stake of AVAS in the company following the debt conversion was higher than the sum that AVAS would obtain from the liquidation of the company.
Natančneje, romunski organi so trdili, da je za agencijo AVAS kot upnika pretvorba celotnega dolga v lastniški kapital in prodaja celotnega deleža v podjetju kratkoročno boljša možnost kot izvršba dolga, saj je tržna vrednost deleža agencije AVAS v podjetju po pretvorbi dolga bila višja od vsote, ki bi jo agencija AVAS prejela ob likvidaciji podjetja.
Romania submitted a consultancy report prepared by Raiffeisen Capital & Investment SA (hereinafter: ‘the consultancy report’) in order to demonstrate that the state’s best strategy for maximising its return was to perform the debt-to-equity debt conversion followed by the short-term sale of combined packages of shares.
Romunija je poslala poročilo, ki ga je pripravilo svetovalno podjetje Raiffeisen Capital & Investment SA (v nadaljnjem besedilu: poročilo o posvetovanju), s katerim je želela prikazati, da je najboljša strategija države za povečanje donosnosti izvedba pretvorbe dolga v lastniški kapital, ki mu sledi kratkoročna prodaja celotnega paketa delnic.
The consultancy report examines, on the one hand, the value of the AVAS claim in a liquidation scenario and, on the other hand, its value in a debt conversion + privatisation scenario.
Poročilo na eni strani preučuje vrednost terjatev agencije AVAS v primeru likvidacije in na drugi strani njihovo vrednost v primeru pretvorbe dolga in privatizacije.
The liquidation assessment is based on two liquidation reports (a previous Raiffeisen liquidation report dating from February 2011, and a liquidation report by the independent consultancy Romcontrol SA Bucharest, dated March 2011).
Ocena likvidacije temelji na dveh likvidacijskih poročilih (predhodnem likvidacijskem poročilu podjetja Raiffeisen iz februarja 2011 in likvidacijskem poročilu neodvisnega svetovalnega podjetja Romcontrol SA Bucharest iz marca 2011).
The outcome for the State in a debt conversion + privatisation scenario was estimated on the basis of the enterprise value method, which is one of the fundamental metrics used in business valuation.
Rezultat za državo v primeru pretvorbe dolga in privatizacije je bil ocenjen na osnovi metode vrednosti podjetja, ki je eden izmed temeljnih načinov za vrednotenje poslovanja.
(A detailed description of the methodologies used and the outcome of the evaluation, as well as its critical assessment by the Commission, are to be found in section IX.3.3 below.)
(Podroben opis uporabljene metodologije in rezultat vrednotenja ter kritična ocena slednjega, ki jo je podala Komisija, so na voljo v oddelku IX.3.3. spodaj.)
The report concludes that converting its total debt into equity would allow for a smoother and faster privatisation process for the company, and that the financial outcome of this option is superior to the choice of liquidation for AVAS.
Poročilo zaključuje, da bi pretvorba celotnega dolga v lastniški kapital omogočila lažji in hitrejši postopek privatizacije za podjetje ter da je finančni izid te možnosti za agencijo AVAS boljši od likvidacije.
In order to ascertain whether the measures under scrutiny constitute state aid, the Commission has to assess whether they fulfil the cumulative conditions of Article 107(1) TFEU.
Da bi Komisija ugotovila, ali ukrepi, ki so predmet preiskave, pomenijo državno pomoč, mora oceniti, ali v celoti izpolnjujejo kumulativne pogoje člena 107(1) PDEU.
That provision states that ‘[s]ave as otherwise provided in the Treaties, any aid granted by a Member State or through state resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods shall, in so far as it affects trade between Member States, be incompatible with the internal market’.
Ta določba navaja, da je „vsaka pomoč, ki jo dodeli država članica ali kakršna koli vrsta pomoči iz državnih sredstev, ki izkrivlja ali bi lahko izkrivljala konkurenco z dajanjem prednosti posameznim podjetjem ali proizvodnji posameznega blaga, razen če ta pogodba ne določa drugače, nezdružljiva s skupnim trgom, če prizadene trgovino med državami članicami“.
The Commission notes that, in the light of the withdrawal of the notification with regard to measure 2 (see section VII above), the following assessment concerns measures 1 and 3 only.
Komisija ugotavlja, da zaradi preklica priglasitve ukrepa 2 (glej oddelek VII zgoraj) naslednja ocena velja samo za ukrep 1 in 3.
Measure 1 has been modified, as Romania has linked the conversion of the debt into equity to the privatisation of Oltchim.
Ukrep 1 je bil spremenjen, saj je Romunija pretvorbo dolga v lastniški kapital povezala s privatizacijo podjetja Oltchim.
The assessment of that latter measure is therefore carried out on the assumption that the equity stake which AVAS will hold after the conversion will immediately be sold to a private investor in a fair, open and transparent sales process, which aims at maximising the revenues for AVAS.
Ocena tega ukrepa torej temelji na domnevi, da bo delež lastniškega kapitala, ki ga bo agencija AVAS imela po pretvorbi, takoj prodan zasebnemu vlagatelju v pravičnem, odprtem in preglednem postopku prodaje, katerega namen je zvišati prihodke agencije AVAS.
Furthermore, the Commission considers that the issue of whether the creditor AVAS conferred any undue advantage to Oltchim in the way it treated the debt after 1 January 2007 has to be assessed in the context of GEO 51/1998 (see recital (27) above) and Law 30/2007 mandating AVAS to re-perform the debt conversion, of the notification of the debt conversion to the Commission – identified as measure 1 in the opening decision – and of the modification of measure 1 as a consequence of the doubts raised by the Commission and the constraints resulting from the EU/IMF programme.
Nadalje Komisija meni, da mora biti vprašanje, ali je zaradi načina, ki ga je agencija AVAS uporabila pri obravnavi dolga po 1. januarju 2007, prišlo do neupravičene prednosti za podjetje, ocenjeno na podlagi GEO 51/1998 (glej uvodno izjavo (27) zgoraj) in zakona št. 30/2007, ki agencijo AVAS pooblašča za ponovno izvedbo pretvorbe dolga, priglasitev pretvorbe dolga Komisiji – opredeljeno kot ukrep 1 v uvodnem sklepu o začetku postopka – in spremembo ukrepa 1 kot posledica dvomov s strani Komisije in omejitev, ki izhajajo iz programa EU/MDS.
Moreover, the Commission notes that the intention to privatise the company in full by the end of May 2012, as communicated by the Romanian authorities in their letter of 21 October 2011 and re-confirmed in the letter from Prime Minister Ungureanu of 16 February 2012, is considered to be an integral part of measure 1.
Nadalje Komisija navaja, da je namera za popolno privatizacijo podjetja do konca maja 2012, kot so sporočili romunski organi v svojem dopisu z dne 21. oktobra 2011 in ponovno potrdili z dopisom predsednika vlade Ungureanuja z dne 16. februarja 2012, sestavni del ukrepa 1.
With regard to the environmental fine on the one hand, and the company's pending debts towards Electrica SA, Salrom Exploatarea Minieră Rm.
V zvezi z okoljsko globo na eni strani in neodplačanimi dolgovi podjetja do podjetij Electrica SA, Salrom Exploatarea Minieră Rm.
Vâlcea, and SC CET Govora SA, on the other, the Commission notes that those alleged measures were not part of the opening decision.
Vâlcea in SC CET Govora SA na drugi strani, Komisija navaja, da ti ukrepi niso bili del uvodnega sklepa o začetku postopka.
Therefore, they cannot form part of the present Decision.
Zato ne morejo biti del tega sklepa.
The Commission will inform the complainant in due time of the further course of action with regard to those allegations on the basis of Article 10 of Regulation (EC) No 659/1999.
Komisija bo pritožnika pravočasno obvestila o poteku dogodkov v zvezi z navedbami na podlagi člena 10 Uredbe (ES) št. 659/1999.
Competence of the Commission prior to accession
Pristojnost Komisije pred pristopom
As indicated in section V above, Anonymous Party II argued that some of the state guarantees granted to Oltchim during the period 1995-2000 were still in place after Romania's accession to the EU, namely until 31 October 2009, and therefore should be treated as of the accession date as new aid.
Kot je bilo navedeno v oddelku V zgoraj, je anonimna stranka II trdila, da so bila nekatera državna jamstva, ki so bila dana podjetju Oltchim v obdobju od 1995 do 2000, po pristopu Romunije k EU še vedno v veljavi, in sicer do 31. oktobra 2009, zato bi jih bilo treba od dneva pristopa dalje obravnavati kot novo pomoč.
The Commission must therefore assess the validity of that argument and its possible implications for the assessment of the notified measure.
Komisija mora zato oceniti veljavnost te navedbe in njenih možnih posledic na oceno priglašenega ukrepa.
As a general rule, Article 107(1) TFEU is applicable only as of the date of accession onwards.
Praviloma člen 107(1) PDEU velja samo od dneva pristopa dalje.
An exception to that general rule is that of measures that were put into effect before accession and which continue to be applicable afterwards.
Izjema od tega pravila so ukrepi, ki so bili sprejeti pred pristopom, njihova veljavnost pa se po pristopu nadaljuje.
Under the 2005 Accession Treaty between Romania and the EU [24], measures put into effect in Romania before the accession date which are still applicable after the date of accession (1 January 2007), which might constitute state aid within the meaning of Article 107(1) TFEU and do not qualify as existing aid for the purposes of Regulation (EC) No 659/1999 [25], are to be considered potential new aid starting from the accession date for the purposes of applying Article 108(3) TFEU.
V skladu s pristopno pogodbo med Romunijo in EU [24] iz leta 2005 je treba ukrepe, ki so začeli veljati pred pristopom Romunije v EU in so ostali v veljavi tudi po pristopu (1. januarja 2007) ter bi lahko predstavljali državno pomoč v smislu člena 107(1) PDEU, ne uvrščajo pa se v veljavno pomoč v skladu z Uredbo (ES) št. 659/1999 [25], preučiti kot možno novo pomoč, ki je začela veljati od datuma pristopa dalje za namene izvajanja člena 108(3) PDEU.
Point 2.1 of the second paragraph of Annex V to the 2005 Accession Act of Bulgaria and Romania [26], based on Article 22 of the same Accession Act, stipulates that ‘all aid measures still applicable after the date of accession which constitute state aid and which do not fulfil the conditions set out above shall be considered as new aid upon accession for the purposes of the application of Article 88(3) of the EC Treaty’.
Točka 2.1. drugega odstavka Priloge V Akta o pristopu Bolgarije in Romunije k EU iz leta 2005 [26] na osnovi člena 22 istega Akta o pristopu navaja, da se bodo „vsi ukrepi pomoči, ki so veljavni po datumu pristopa in predstavljajo državno pomoč ter ne izpolnjujejo zgoraj navedenih pogojev, po pristopu šteli za novo pomoč za namene izvajanja člena 88(3) Pogodbe“.
The above-mentioned provision thus covers measures put into effect before the accession date (1 January 2007) which are still applicable after that date.
Zgoraj omenjena določba torej pokriva ukrepe, ki so začeli veljati pred datumom pristopa (1. januar 2007) in so ostali v veljavi tudi po tem datumu.