natgillin/translations-raw huggingface dataset:
In other words, the Authority has to assess whether the sales price of NOK 715 Million can be considered to reflect the market value of the properties or not.
Z drugimi besedami, Nadzorni organ mora presoditi, ali se za prodajno ceno 715 milijonov NOK lahko šteje, da izraža tržno vrednost nepremičnin.
Article 61(1) of the EEA Agreement
Člen 61(1) Sporazuma EGP
For a measure to be state aid in the meaning of the EEA Agreement it has to fulfil the conditions of Article 61(1) of the Agreement which reads as follows:
Da je ukrep državna pomoč v smislu Sporazuma EGP, mora izpolnjevati pogoje člena 61(1) Sporazuma, ki se glasi:
‘Save as otherwise provided in this Agreement, any aid granted by EC Member States, EFTA States 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 Contracting Parties, be incompatible with the functioning of this Agreement.’
„Razen če ta sporazum ne določa drugače, je vsaka pomoč, ki jo dodeli država članica ES ali država Efte, ali kakršna koli vrsta pomoči iz državnih sredstev, ki izkrivlja ali bi lahko izkrivljala konkurenco z dajanjem prednosti posameznim podjetjem ali proizvodnji posameznega blaga, nezdružljiva z delovanjem tega sporazuma, v kolikor negativno vpliva na trgovino med pogodbenicami.“
This implies that the following conditions have to be fulfilled cumulatively:
To pomeni, da morajo biti naslednji pogoji izpolnjeni kumulativno:
the aid is granted by ‘EC Member States, EFTA States or through State resources in any form whatsoever’;
pomoč, ki jo dodeli „država članica ES ali država Efte, ali kakršna koli vrsta pomoči iz državnih sredstev“;
the aid ‘distorts or threatens to distort competition’;
pomoč „izkrivlja ali bi lahko izkrivljala konkurenco“;
the aid ‘favours certain undertakings or the production of certain goods’ (i.e. the measure confers an advantage on a specific recipient); and
pomoč „daje prednost posameznim podjetjem ali proizvodnji posameznega blaga“ (tj. ukrep daje prednost določenemu prejemniku);
the aid ‘affects trade between the Contracting Parties’.
pomoč „negativno vplivala na trgovino med pogodbenicami“.
Condition 1 above is directed at all aid financed from public resources, including aid granted by regional or local bodies.
Prvi pogoj zgoraj zadeva vso pomoč, ki se financira iz javnih sredstev, vključno s pomočjo, ki jo dodelijo regionalni ali lokalni organi.
The notion of state resources is very broad and includes i.a. financial assistance granted by regional and local authorities [19].
Pojem državnih sredstev je zelo širok in med drugim vključuje finančno pomoč, ki jo dodelijo regionalni in lokalni organi [19].
It is thus clear that any aid from the Municipality of Oslo would fall within the notion of ‘State resources’.
Zato je jasno, da bi bila vsaka pomoč iz sredstev občine Oslo vključena v pojem „državnih sredstev“.
A sale by the Municipality of publicly owned land and buildings below market value, presuming that the other three conditions of Article 61(1) are also fulfilled, implies that state aid would be granted to the buyer.
Prodaja zemljišč in objektov v javni lasti, ki jo opravi občina, pod tržno vrednostjo ob predpostavki, da so izpolnjeni tudi preostali trije pogoji iz člena 61(1), pomeni, da bi bila kupcu dodeljena državna pomoč.
In the case at hand, any aid granted to Fredensborg would favour that undertaking and would thereby be specific.
V obravnavani zadevi bi vsaka pomoč Fredensborgu dajala prednost temu podjetju in bila zato značilna.
Furthermore, in order to be classified as state aid, the sale of the apartments must have conferred an advantage on Fredensborg.
Poleg tega je morala prodaja stanovanj, da se uvrsti kot državna pomoč, dajati prednost Fredensborgu.
The sale would entail an advantage and thereby imply state aid if the apartments were sold under market value.
Če bi bila stanovanja prodana pod tržno vrednostjo, bi prodaja pomenila dajanje prednosti in s tem državno pomoč.
Only to the extent the sale to Fredensborg was carried out below market value, would it also be necessary to establish that competition was distorted and that trade between Contracting parties was affected.
Samo do zneska, v kakršnem je bila prodaja Fredensburgu izvedena pod tržno vrednostjo, bi bilo treba tudi ugotoviti, ali je bila konkurenca izkrivljena in ali je bila prizadeta trgovina med pogodbenicami.
Did the final purchase price reflect market value?
Ali je končna nakupna cena izražala tržno vrednost?
Several value assessments exist, which arrive at different results, concerning the market value of the apartments.
Obstaja več ocen vrednosti, ki vodijo do različnih rezultatov glede tržne vrednosti stanovanj.
The lowest indicated price is NOK 670 Million and the highest is NOK 1143 Million.
Najnižja navedena cena znaša 670 milijonov NOK, najvišja pa 1143 milijonov NOK.
In light of these diverging results, the Authority considers it necessary to assess these evaluations in some detail, in order to establish, which one of these evaluations best reflects the market value of the apartments.
Glede na te različne rezultate Nadzorni organ ocenjuje, da je treba ta vrednotenja podrobneje oceniti, da se ugotovi, katera izmed teh ocen najbolje izraža tržno vrednost stanovanj.
The first appraisal by Catella delivered on 30 March 2001, established a value of NOK 1143 Million.
Prva presoja podjetja Catella, predložena 30. marca 2001, je določila vrednost 1143 milijonov NOK.
According to the Municipality, this appraisal included real estate which was not covered by the sale.
Po mnenju občine so bile v to presojo vključene nepremičnine, ki niso bile zajete v prodaji.
This aspect inflated the final value.
Zaradi tega je bila napihnjena končna vrednost.
As far as the Catella evaluation is concerned, the Authority also notes that inspection of the properties appears to have been rather superficial in relation to an earlier evaluation which, amongst others, may have lead to an underestimation of costs for renovation.
Glede vrednotenja podjetja Catella Nadzorni organ prav tako opaža, da je bil pregled nepremičnin precej površen glede na predhodno vrednotenje, kar je med drugim morda pripeljalo do podcenitve stroškov obnove.
Furthermore, contractual obligations that limit the possibilities for rent increases have not been sufficiently taken into consideration with the result that revenues are under-estimated.
Poleg tega niso bile dovolj upoštevane pogodbene obveznosti, ki omejujejo možnosti zvišanja najemnin, zaradi česar so podcenjeni prihodki.
Catella itself stated that the valuation was not in accordance with established valuation standards.
Podjetje Catella je samo izjavilo, da vrednotenje ni potekalo v skladu z veljavnimi standardi.
According to the sales agent, Akershus Eiendom, as well as the Municipality of Oslo, the estimated value could not be considered to reflect the market value.
Po mnenju prodajnega agenta Akershusa Eiendoma ter občine Oslo ocenjena vrednost ni mogla šteti kot izraz tržne vrednosti.
The Authority concurs with this.
Nadzorni organ se s tem strinja.
Furthermore, the impact of the ‘as-is’ clause was not assessed in the Catella appraisal.
Poleg tega presoja podjetja Catella ni ocenila vpliva klavzule „videno, kupljeno“.
In light of these shortcomings, the Authority concludes that the Catella appraisal cannot be used as a sufficiently sound basis to establish the market value.
Glede na te pomanjkljivosti Nadzorni organ ugotavlja, da se presoja podjetja Catella ne more uporabiti kot dovolj trdna podlaga za določanje tržne vrednosti.
The second appraisal carried out by OPAK and delivered on 26 April 2001, estimated the value at NOK 795 Million.
Druga presoja, ki jo je opravilo podjetje OPAK in predložilo 26. aprila 2001, je vrednost ocenila na 759 milijonov NOK.
It is important to note that although OPAK inspected the majority of the buildings externally, not all buildings were inspected.
Treba je povedati, da čeprav je podjetje OPAK opravilo zunanji pregled na večini objektov, vsi objekti niso bili pregledani.
Furthermore, OPAK only inspected 10 out of 1744 apartments.
Poleg tega je podjetje OPAK pregledalo samo 10 stanovanj od 1744.
With respect to OPAK's evaluation, it has already been pointed out above that an inadequate inspection of the properties, not all the buildings and only 10 out of 1744 apartments were inspected, cannot be considered to represent a proper basis for a value assessment.
Glede na vrednotenje podjetja OPAK je bilo navedeno že zgoraj, da nezadosten pregled nepremičnin – pregledani niso bili vsi objekti in samo 10 stanovanj od 1744 – ne more šteti kot primerna podlaga za oceno vrednosti.
This is insufficient to estimate the correct figures for refurbishment and maintenance.
To ni dovolj za oceno pravilnih številk za obnovo in vzdrževanje.
Moreover, certain contractual limitations on obligations have not been taken sufficiently into account.
Poleg tega niso bile dovolj upoštevane nekatere pogodbene omejitve in obveznosti.
While some of these elements may offset each other, the Authority cannot conclude that OPAK's evaluation is based on sufficiently accurate assumptions.
Čeprav se ti elementi lahko medsebojno izravnavajo, Nadzorni organ ne more zaključiti, da vrednotenje podjetja OPAK temelji na dovolj natančnih predpostavkah.
Finally, the revised OPAK appraisal was concluded at the time when the contract was already signed.
Konec koncev je bila presoja podjetja OPAK zaključena v času, ko je bila pogodba že podpisana.
With respect to the FIGA/Nortakst assessment, it appears that inspection of properties has been adequate, although it is not apparent when reading the report.
V zvezi z oceno podjetij FIGA/Nortakst vse kaže, da je bil pregled nepremičnin ustrezen, čeprav to iz poročila ni razvidno.
The estimation of the gain by a later sectioning of the apartments appears to be largely overestimated for several reasons.
Ocena dobička naknadne prodaje stanovanj po delih se zdi visoko precenjena zaradi več razlogov.
Sales prices are based on so-called technical values (costs of new buildings with deductions for age and usage) and not on established market rent.
Prodajne cene temeljijo na tako imenovanih tehničnih vrednostih (stroških novih objektov z odbitki za starost in uporabo) in ne na določeni tržni najemnini.
It is unreasonable to assume that prices on second hand apartments will be as high as those based on calculations of technical value.
Nesmiselno je predpostavljati, da bodo cene rabljenih stanovanj enako visoke kot tiste, ki temeljijo na izračunih tehnične vrednosti.
Furthermore, technical values are inflated in the sense that they are assumed to increase faster than reasonable assumptions for inflation.
Poleg tega so tehnične vrednosti zvišane, ker se predvideva, da se zvišujejo hitreje, kot se razumno predvideva za inflacijo.
No reduction has been made with respect to the ‘as is’ clause in the contract.
Ni bilo opravljeno nobeno znižanje v zvezi s pogodbeno klavzulo „videno, kupljeno“.
In addition, certain current rents are overestimated according to what current lease contracts provide for.
Poleg tega so nekatere trenutne najemnine precenjene glede na to, kaj predvidevajo sedanje pogodbe o zakupu.
Refurbishing costs appear to be substantially underestimated and it seems also unrealistic to expect that all apartments can be sold in a single year.
Vse kaže, da so stroški obnove občutno podcenjeni in prav tako se zdi nestvarno pričakovati, da se lahko vsa stanovanja prodajo v enem letu.
On this basis, the Authority questions to what extent the FIGA/Nortakst appraisal reflects the market value.
Na tej podlagi se Nadzorni organ sprašuje, do katere mere presoja podjetij FIGA/Nortakst izraža tržno vrednost.
In the Authority’s view, BER has, like some of the other assessors, not taken sufficiently into account that it will take time to adjust rents up to market rents and it has overestimated the actual rent for 2001.
Nadzorni organ meni, da podjetje BER, tako kot nekateri drugi ocenjevalci, ni dovolj upoštevalo, da bo za prilagoditev najemnin tržnim najemninam potreben čas, in je precenilo dejansko višino najemnin za leto 2001.
This factor may, however, be partially offset by a relatively high estimate for owners’ operating costs.
Vendar se lahko ta dejavnik delno izravna z razmeroma visokimi ocenami obratovalnih stroškov lastnikov.
BER has not undertaken any inspections of the properties.
Podjetje BER ni opravilo nobenih pregledov nepremičnin.
Therefore, this report also casts doubts as to whether the concluded market value is sufficiently reliable.
Zato to poročilo tudi dopušča dvom o tem, ali je končna tržna vrednost dovolj zanesljiva.
Agdestein did not carry out any inspections of the properties but studied the other valuations carried out by Catella (where he was engaged in the value appraisal), OPAK and FIGA/Nortakst.
Agdestein ni opravil nobenih pregledov nepremičnin, temveč je preučil druga vrednotenja, ki so jih opravila podjetja Catella (kjer je Agdestein sodeloval pri presoji vrednosti), OPAK in FIGA/Nortakst.
In his comments to these reports, he has pointed to various weaknesses, like direct mistakes but also to information which was not available at the time of the other valuations.
V pripombah k tem poročilom je opozoril na različne pomanjkljivosti, kot so neposredne napake, pa tudi na informacije, ki med drugimi vrednotenji niso bile na voljo.
Holm estimates the market value of the apartments to be approximately NOK 753 Million.
Po Holmovi oceni znaša tržna vrednost stanovanj približno 753 milijonov NOK.
Holm has inspected all properties both externally and internally.
Holm je v vseh nepremičninah opravil zunanji in notranji pregled.
Some 70 flats throughout the portfolio were inspected together with staff from the hospitals and information was obtained from operational staff.
Pregledanih je bilo približno 70 stanovanj v portfelju, skupaj z bolnišničnim osebjem, informacije pa je zagotovilo operativno osebje.
As minimum maintenance had been carried out in the period from 2001 until the inspection took place in early January 2005, Holm deems the information gathered to be representative for the situation in 2001.
Ker je minimalno vzdrževanje potekalo v obdobju od leta 2001 do pregleda na začetku januarja 2005, Holm ocenjuje, da so zbrane informacije reprezentativne za razmere v letu 2001.
Detailed cost estimations have been undertaken in relation to upgrading (windows, balconies, bathrooms, etc.).
Podrobne ocene stroškov so bile opravljene v zvezi s posodobitvami (okna, balkoni, kopalnice itd.).
Assumptions on rent developments and economic potential for sectioning and sale of part of the portfolio in the future appear reasonable amongst others in relation to contractual factors related to leases and future developments of the housing market.
Predpostavke o gibanju najemnin in iztržku, ki se ga lahko pričakuje od razdelitve na dele in prodaje dela portfelja v prihodnosti, se zdijo razumne med drugim v zvezi s pogodbenimi dejavniki, ki se nanašajo na zakupe in prihodnji razvoj stanovanjskega trga.
The method for calculating present value of future income and expenditure flows are based on well established principles and on use of a discount factor close to what has been used in the other value appraisals.
Metoda za izračun sedanje vrednosti prihodnjih tokov prihodkov in odhodkov temelji na dobro uveljavljenih načelih in uporabi diskontnega faktorja, ki je blizu tistemu, kar je bilo uporabljeno v drugih ocenah vrednosti.
The Authority sees no reason to question the methodology applied by Holm nor the assumptions used to establish the market value, keeping in mind that there are always uncertainties attached to such assumptions.
Nadzorni organ ne vidi razloga, da bi povzročal pomisleke o metodologiji, ki jo je uporabil Holm, ali predpostavkah, ki so bile uporabljene za določitev tržne vrednosti, pri čemer je upošteval, da v povezavi s tovrstnimi predpostavkami vedno obstajajo nejasnosti.
Can it be established that the final sales price was under market value?
Je mogoče zaključiti, da je bila končna prodajna cena pod tržno vrednostjo?
In light of the above, it cannot be concluded that one single estimate by definition represents the market value a buyer would be ready to accept.
Glede na zgornje navedbe ni mogoče zaključiti, da ena sama ocena sama po sebi predstavlja tržno vrednost, ki bi jo bil kupec pripravljen sprejeti.
An acceptable market value, after testing the market, may rather be found within a reasonable margin.
Po preizkusu trga lahko sprejemljivo tržno vrednost bržkone najdemo znotraj razumne meje.
In the Authority’s view, there is no evident answer to how wide such a margin should be.
Po mnenju Nadzornega organa ni jasnega odgovora, kako širok naj bi bil ta obseg.
That would possibly be different from case to case.
Verjetno bi se razlikoval od primera do primera.
It needs to be borne in mind that the transaction at hand implied certain particularities with respect to the size of the sales object, contractual obligations, future sectioning and sale of apartments.
Upoštevati je treba, da je obravnavana transakcija vsebovala določene posebnosti glede velikosti objekta prodaje, pogodbenih obveznosti ter prihodnje razdelitve stanovanj in njihove prodaje po delih.
As shown above, value assessments as in the case at hand are based on a number of uncertain parameters.
Kot je prikazano zgoraj, temeljijo ocene vrednosti, tako kot v obravnavani zadevi, na številnih negotovih parametrih.
This is illustrated, amongst others, by a sensitivity analysis to which Holm referred to.
To je med drugim razvidno iz občutljivostne analize, na katero se je skliceval Holm.
This sensitivity analysis demonstrates how different assumptions can substantially influence the price.
Ta občutljivostna analiza kaže, kako lahko različne predpostavke pomembno vplivajo na ceno.
The sensitivity analysis shows that if the estimated price per m2 of flats to be sold in ten years time after acquisition was NOK 24000 and not NOK 26000 as assumed for the purpose of calculating the value, this ‘adjustment’ alone would result in a portfolio worth of 720 Millions instead of 753 Millions.
Občutljivostna analiza kaže, da bi vrednost portfelja, če bi predvidena cena za kvadratni meter stanovanj, ki se bodo prodala v obdobju desetih let po nakupu, znašala 24000 NOK in ne 26000 NOK, kot je bilo predvideno pri izračunavanju vrednosti, samo zaradi te „prilagoditve“ znašala 720 milijonov namesto 753 milijonov.
A change of 50 basis points in the required yield, would be of the same magnitude.
Sprememba za pol odstotne točke v zahtevanem donosu bi bila enako velika.
A further down rating of for example 2 % of the rent revenues, would result in a worth under that of the achieved sales price.
Nadaljnje znižanje za denimo 2 % prihodkov od najemnin bi pripeljalo do vrednosti, ki bi bila nižja od vrednosti dosežene prodajne cene.
In light of these uncertainties, it is not possible to pinpoint with a sufficient degree of reliance an aid element in the transaction.
Glede na te negotovosti ni mogoče dovolj zanesljivo prikazati elementa pomoči v transakciji.
That the final sales price could be within a reasonable margin is further demonstrated by the bidding procedure that was organised by the Municipality of Oslo and conducted by Akershus.
Da bi bila lahko končna prodajna cena znotraj razumne meje, nadalje prikazuje ponudbeni postopek, ki ga je organizirala občina Oslo in izvedel Akershus.
Six companies were contacted and another nine companies contacted Akershus on their own initiatives.
Ti so navezali stike s šestimi podjetji, drugih devet podjetij pa je stik z Akershusom vzpostavilo na lastno pobudo.
Six offers were submitted.
Predloženih je bilo šest ponudb.
Among the bidders were professional investors and real estate companies.
Med ponudniki so bili profesionalni investitorji in nepremičninska podjetja.
The two final offers were made at NOK 690 Million and NOK 735 Million.
Končni ponudbi sta znašali 690 milijonov NOK in 735 milijonov NOK.
Although the bidding procedure was not in compliance with the State Aid Guidelines (see above), it still provides certain guidance as to what the Norwegian market would be willing to offer for such a real estate object.
Čeprav ponudbeni postopek ni potekal v skladu s smernicami o državni pomoči (glej zgoraj), še vedno kaže določene smernice glede tega, kaj bi bil norveški trg pripravljen ponuditi za tak nepremičninski objekt.
This ‘market test’ and its outcome demonstrate to a certain degree the reasonable margin in which the market price can be placed.
Ta „preizkus trga“ in njegov izid nekako kažeta razumno mejo, znotraj katere se lahko določi tržna cena.
Hence, the Authority considers that the sales price of NOK 715 million for the sales object at hand is within a reasonable range in relation to Holm's assessed value of NOK 753 Million.
Zato Nadzorni organ meni, da je prodajna cena 715 milijonov NOK za obravnavani objekt prodaje znotraj razumnega obsega glede na Holmovo ocenjeno vrednost 753 milijonov NOK.
The Authority cannot establish that the sale of 1744 hospital apartments from the Municipality of Oslo to Fredensborg involved state aid within the meaning of Article 61(1) of the EEA Agreement.
Nadzorni organ ne more zaključiti, da je prodaja 1744 bolnišničnih stanovanj občine Oslo Fredensborgu vsebovala državno pomoč v smislu člena 61(1) Sporazuma EGP.
The Municipality of Oslo has argued that even if the price obtained was found to be below market value, the sale would not constitute aid within the meaning of Article 61(1) of the EEA Agreement as the market in which Fredensborg operates does not contain elements of cross-border trade.
Občina Oslo je trdila, da prodaja, četudi bi bila dosežena cena nižja od tržne vrednosti, ne bi pomenila pomoči v smislu člena 61(1) Sporazuma EGP, saj trg, na katerem posluje Fredensborg, ne vsebuje elementov čezmejne trgovine.
Given the Authority's conclusion that it cannot be established that market value was not obtained in the sale at hand, the Authority sees no reason to discuss effects on trade and competition,
Glede na zaključek Nadzornega organa, da je nemogoče ugotoviti, da tržna vrednost v obravnavani prodaji ni bila dosežena, slednji ne vidi razloga, da bi razpravljal o vplivu na trgovino in konkurenco –
The conditions of the proposed sale of 1744 rental apartments from the Municipality of Oslo to Fredensborg Boligutleie ANS do not constitute state aid within the meaning of Article 61(1) of the EEA Agreement.
Pogoji predlagane prodaje 1744 najemnih stanovanj občine Oslo Fredensborgu Boligutleie ANS ne pomenijo državne pomoči v smislu člena 61(1) Sporazuma EGP.
The formal investigation is hereby closed.
Uradna preiskava je s tem zaključena.
This Decision is addressed to Norway.
Ta odločba je naslovljena na Norveško.
Procedural and Substantive Rules in the Field of State Aid (State Aid Guidelines), adopted and issued by the EFTA Surveillance Authority on 19 January 1994.
Procesna in materialna pravila na področju državne pomoči (smernice o državni pomoči), ki jih je sprejel in izdal Nadzorni organ Efte dne 19. januarja 1994.
Published in OJ L 231, 3.9.1994.
Objavljeno v UL L 231, 3.9.1994.
The Guidelines were last amended on 15 December 2004.
Smernice so bile nazadnje spremenjene dne 15. decembra 2004.
Dec. No. 113/03/COL.
Odločba št. 113/03/COL.
The decision to open the formal investigation procedure was published in OJ C 294, 4.12.2003, p. 13, and in the EEA Supplement No 61, on the same date, p. l.
Odločba o uvedbi uradnega preiskovalnega postopka je bila objavljena v UL C 294, 4.12.2003, str. 13, in v Dodatku EGP št. 61 istega dne, str. 1.
The bill was presented to the Parliament on 6 April 2001.
Osnutek zakona je bil predložen Parlamentu dne 6. aprila 2001.
NOK/EUR = 7,9952 per May 2001 according to the Norwegian Central Bank.http://www.norges-bank.no/stat/valutakurser/kurs_mn1.html
NOK/EUR = 7,9952 maja 2001 po podatkih norveške centralne banke.http://www.norges-bank.no/stat/valutakurser/kurs_mn1.html