natgillin/translations-raw huggingface dataset:
This was not the case for FSIH, which had to pay 49,7 % of the price set for these assets.
Vid genomförandet av principen om lojalt samarbete som är tillämplig på Belgien inom ramen för återbetalningsförfarandet ska det stödbelopp som beviljats till [det bolag som vid den tidpunkten utgjorde det ledande företaget i Dufercokoncernen] – senare […] – och till SIF särskilt fastställas mer exakt under förfarandet, på grundval av de uppgifter som Belgien har uppgett, med beaktande av, framför allt för de stöd som har beviljats i form av lån, de faktiska datumen för betalningar eller återbetalningar samt alla andra relevanta omständigheter som Belgien framhåller.
Consequently, it was for FSIH and not Duferco to make every possible effort to evaluate the assets at their fair value.
De belopp som ska återkrävas ska i vart fall innefatta ränta fram till den faktiska återbetalningen.
The fact that Duferco did not have access to documents other than those produced by Belgium does not, in any case, prove that FSIH behaved as a private investor in a market economy.
SLUTSATS
With regard to the content of these evaluations, the Commission points out that four items had to be valued: (i) the shares in DLLPL; (ii) the shares in Duferco Trebos; (iii) the stocks bought from Duferco La Louvière Sales; and (iv) the project justifying an investment of EUR [30-40] million in DLLPL.
Kommissionen konstaterar att Belgien har genomfört de aktuella stödåtgärderna i strid med artikel 108.3 i EUF-fördraget.
The Commission takes the view that the Galtier report of May 2011, submitted by Belgium, does not constitute a thorough valuation exercise for DLLPL.
Kommissionen anser att samtliga granskade åtgärder utgör statligt stöd som är oförenligt med den inre marknaden.
It merely refers to an estimate of the fair value of tangible assets at the La Louvière site and does not deal with any liabilities or any business plan.
HÄRIGENOM FÖRESKRIVS FÖLJANDE.
However, the expert Galtier had informed the Commission, through Belgium, that it had based its estimate on a business plan in due form.
Artikel 1
The summary version of this business plan, provided by Belgium [54], is a short document that does not contain any date or refer to any assumptions.
Följande åtgärder, som Belgien olagligen har genomfört i strid med artikel 108.3 i fördraget om Europeiska unionens funktionssätt, utgör statligt stöd som är oförenligt med den inre marknaden:
The Commission did not receive the full version of the business plan, if it ever existed.
Försäljningen av innehavet i Duferco US Investment Corporation till förmån för Duferco Industrial Investment till ett belopp av 11581700 euro.
Belgium also put forward the same argument concerning the purchase price of the shares in Duferco Trebos, i.e. that the document ‘Value in use of the tangible and intangible assets of Trebos’ of May 2011 is actually a combination of studies and reports that includes a two-page preliminary business plan drawn up by Duferco [55].
Försäljningen av innehavet i Duferco Participations Holding Limited till förmån för [det bolag som vid denna tidpunkt kontrollerade DPH] till ett belopp av 20362464 euro.
The completion date of this document is not specified.
Förvärvet av andelar i Duferco Salvage Investments Holding till förmån för nämnda bolag till ett belopp av [65–72 miljoner] euro.
The objective of the 2011 report was to evaluate the assets' value in use and to identify the value of customers in the business assets.
Lånet till förmån för [det bolag som vid den tidpunkten utgjorde det ledande företaget i Dufercokoncernen] till ett belopp av 2082723 euro, i den mån den räntesats som har tillämpats på lånet understiger 3,502 %.
The accounts were not checked and the company was not audited.
Lånet till förmån för Steel Invest & Finance till ett belopp av 10413639 euro, i den mån den räntesats som har tillämpats på lånet understiger 4,302 %.
No overall valuation of Duferco Trebos as a whole was provided.
Förvärvet av andelar i Duferco Long Products till förmån för nämnda bolag till ett belopp av 100000000 euro.
Regarding these two acquisitions, Belgium also acknowledges that ‘the parties did not deem it necessary to produce a business plan in due form.
Artikel 2
FSIH knew perfectly well what it was acquiring.’
Belgien ska se till att de direkta stödmottagarna eller deras rättsliga efterträdare betalar tillbaka de oförenliga stöd som beviljats och som avses i artikel 1.
The Commission considers knowledge of a company to be useful but insufficient for an investor whose decision to invest depends on expected future profitability.
De stöd som ska återkrävas ska innefatta ränta från och med den dag då stöden ställdes till stödmottagarnas förfogande till och med den dag då de har återbetalats.
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.
Räntorna ska beräknas som sammansatt ränta enligt kapitel V i kommissionens förordning (EG) nr 794/2004 [67].
Again, the Commission notes that the completion date of this document is not indicated.
Artikel 3
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.
Återkravet av de stöd som avses i artikel 1 ska genomföras omedelbart och effektivt.
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.
Belgien ska säkerställa att detta beslut genomförs inom fyra månader från den dag det har delgivits.
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.
Artikel 4
In the Commission's view, the other documents relied on by Belgium do not make up for this document's shortcomings.
Inom två månader efter den dag då detta beslut har delgivits ska Belgien lämna följande uppgifter till kommissionen:
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.
Det totala belopp (kapital och räntor) som ska återkrävas från varje stödmottagare.
One page is devoted to the development of DLLPL over the previous five years.
Vilka åtgärder (i detalj) som redan har vidtagits och vilka åtgärder som planeras för att följa beslutet.
The document ‘Long Products Marketing Plan 2011-2013’ is limited to a study of the relevant sector.
Dokument som visar att stödmottagarna har anmodats att betala tillbaka stödet.
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.
Belgien ska, på kommissionens begäran, omedelbart överlämna alla uppgifter om de åtgärder som redan vidtagits och som planeras för att följa detta beslut.
It follows from the above that the investment cannot be considered pari passu and in line with the market economy investor principle.
Belgien ska också lämna detaljerade uppgifter om de stödbelopp och räntebelopp som redan har återbetalats av stödmottagarna.
The amount of aid received by DLP is therefore the amount of the capital increase, i.e. EUR 100 million.
Artikel 5
General conclusion on the economic advantage criterion
Detta beslut riktar sig till Konungariket Belgien.
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.
Utfärdat i Bryssel den 20 januari 2016.
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.
På kommissionens vägnar
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.
Ledamot av kommissionen
This analysis is supported by the simultaneity of or short period of time between certain events.
Med verkan från och med den 1 december 2009 har artiklarna 87 och 88 i EG-fördraget ersatts av artikel 107 respektive 108 i fördraget om Europeiska unionens funktionssätt (EUF-fördraget).
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].
Innehållet i bestämmelserna är dock i sak oförändrat.
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.
I detta beslut bör hänvisningar till artiklarna 107 och 108 i EUF-fördraget i förekommande fall förstås som hänvisningar till artiklarna 87 och 88 i EG-fördraget.
The company was therefore declared bankrupt in January 1997.
I EUF-fördraget införs dessutom vissa ändringar av terminologin, exempelvis att gemenskapen ersätts med unionen, den gemensamma marknaden med den inre marknaden och förstainstansrätten med tribunalen.
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.
Det är terminologin i EUF-fördraget som används i detta beslut.
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].
EUT C 120, 23.4.2014, s. 51.
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.
Kommissionen kommer hädanefter att hänvisa till Belgien och inte till regionen Vallonien (såvida inte sammanhanget kräver något annat) eftersom korrespondensen har ägt rum med den medlemsstat som omfattas av förfarandet och som detta beslut riktar sig till.
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).
Se fotnot 2.
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.
Kommissionens beslut av den 25 november 1997 i ärende N 680/97, Belgien – Regionen Valloniens finansiella deltagande i företaget ”Duferco Belgique SA”.
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.
Kommissionens beslut av den 26 maj 1999 i ärende N246/99, Belgien – Ekonomiskt bidrag från de belgiska myndigheterna till förmån för företaget HUGB (stål EKSG).
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.
EUT C 95, 19.4.2002, s. 2.
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.
Kommissionens beslut nr 2496/96/EKSG av den 18 december 1996 om gemenskapsregler för statligt stöd till stålindustrin (EGT L 338, 28.12.1996, s. 42).
Furthermore, the Commission observes that the investment behaviour of FSIH does not correspond to that of a prudent market investor.
Kommissionens beslut 2005/137/EG av den 15 oktober 2003 om regionen Valloniens finansiella deltagande i företaget Carsid SA (EUT L 47, 18.2.2005, s. 28).
In this case, FSIH's behaviour should be compared to the behaviour that an investment fund manager would adopt.
Konfidentiell information.
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.
Duferco La Louvière Sales är ett bolag som kontrolleras av SIF.
A non-speculative investment fund must diversify the risks in its investment portfolio in order to ensure its longevity.
Det ska noteras att Ernst & Young felaktigt har bytt ut euro mot dollar.
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.
EUT C 14, 19.1.2008, s. 2.
This diversification does not necessarily have to be extreme, but in this case FSIH concentrated all its investments in a single company.
EUT C 83, 7.4.2009, s. 1.
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.
Domstolens dom av den 16 maj 2002, Frankrike/kommissionen, C-482/99, ECLI EU:C:2002:294, punkt 24.
It follows, overall, that the investment behaviour of FSIH is an additional indication that its operations do not satisfy the market economy investor test.
Tribunalens dom av den 4 april 2001, Regione Friuli Venezia Giulia mot kommissionen, T-288/97, ECLI:EU:T:2001:115, punkt 41.
In light of the above, the Commission concludes that none of the examined measures complies with the market economy investor principle.
Domstolens dom av den 17 september 1980, Philip Morris Holland BV mot kommissionen, 730/79, ECLI:EU:C:1980:209, punkterna 11 och 12.
The conditions of the interventions in each case conferred an advantage on the different entities concerned in the Duferco Group.
Domstolens dom av den 11 juli 1996, SFEI m.fl. mot La Poste, C-39/94, ECLI:EU:C:1996:285, punkt 60.
They therefore constitute State aid within the meaning of Article 107(1) TFEU.
Domstolens dom av den 5 juni 2012, kommissionen mot EDF, C-124/10 P, ECLI:EU:C:2012:318, punkt 90.
The total amount of aid is therefore EUR 211,43 million, in principle.
Synpunkter från […] av den 23 juni 2014, punkt 24.
COMPATIBILITY OF THE AID WITH THE INTERNAL MARKET
Fotnot 2 i Belgiens synpunkter på beslutet att inleda förfarandet av den 11 december 2013.
The prohibition on State aid is neither absolute nor unconditional.
Tribunalens dom av den 28 februari 2012, Land Burgenland mot kommissionen, T-268/08 och T-281/08, ECLI:EU:T:2012:90, punkt 72.
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.
Synpunkter från Belgien av den 11 december 2013, punkt 32.
In its response to the Opening Decision, Belgium did not put forward any reason relating to the compatibility of the measures under investigation.
Domstolens dom av den 5 juni 2012, kommissionen mot EDF, C-124/10 P, ECLI:EU:C:2012:318, punkterna 83–85.
The Commission observes that the derogations in Article 107(2) TFEU are clearly inapplicable.
Synpunkter från […], punkt 42, s.
Of the derogations in paragraph 3 of this Article, only points (a) and (c) could prove useful.
12.
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.
Begäran om information av den 29 november 2011, den 29 juni 2012 och den 27 januari 2015.
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.
Belgiens svar av den 4 juni 2013.
However, no framework or guidelines from the Commission concerning the compatibility criteria relating to State aid seem to be applicable.
Belgiens svar av den 28 september 2012.
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.
Bilaga 1 till Belgiens svar av den 28 september 2012, s. 24 och 6.
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.
Detta värde motsvarar det aritmetiska medelvärdet från KPMG:s uppskattning i efterhand av EBITDA för år 2006, och den EBITDA som verkligen uppkom år 2006.
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.
Bilagan till Belgiens svar av den 25 september 2015, s. 2.
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.
[…] × 49,9 % av FSIH:s innehav.
The purpose of the aid granted by FSIH does not correspond to the two aforementioned aid categories.
Växelkursen mellan US-dollarn och euron den 12 december 2006, dvs. 0,7550.
On the contrary, it was used to finance investments.
Bilaga 4 till Belgiens svar av den 8 april 2015, s. 6 ”Planerade transaktioner”.
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.
Belgiens svar av den 15 september 2015, s. 2.
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.
Bilaga 4 till Belgiens svar av den 8 april 2015, s. 7 ”Motivering av priset”.
It does not seem from SIF's comments that it had this type of difficulty.
Begäran om information av den 15 september 2015.
The Commission therefore considers that SIF did not meet the eligibility conditions laid down by the 2009 Communication and that the aid cannot be deemed compatible with the internal market.
Växelkursen mellan US-dollarn och euron den 14 juni 2006, dvs. 0,7959.
Finally, point 18 of the Community Guidelines on State aid for rescuing and restructuring firms in difficulty [62], which were in force until 30 July 2014, confirms that the steel sector is excluded from their scope.
Bilaga 20 till Belgiens svar av den 5 januari 2012.
In light of the above, the Commission concludes that the six aid measures under investigation are not compatible with the internal market.
Se till exempel Belgiens svar av den 11 december 2013, punkt 86.
RECOVERY OF AID INCOMPATIBLE WITH THE INTERNAL MARKET
Bilaga 6 till Belgiens svar av den 4 juni 2013, sammanfattande tabell över kostnader och intäkter.
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].
Tribunalens dom av den 30 april 1998, Cityflyer Express mot kommissionen, T-16/96, ECLI:EU:T:1998:78, punkt 51.
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].
Skäl 167.
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].
Belgiens svar av den 11 december 2013, punkterna 255–279.
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 …’.
Tribunalens dom av den 12 maj 2011, Région Nord-Pas-de-Calais mot kommissionen, T-267/08 och T-279/08, ECLI:EU:T:2011:209, punkt 161.
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.
Bilaga 13 till Belgiens svar av den 4 juni 2013.
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.
ArcelorMittal, Nippon Steel&Sumitomo Metal Corporation, Tata Steel Limited, Nucor Corporation, United States Steel Corp., ThyssenKrupp AG, PAO Severstal, NLMK, Kobe Steel Ltd (kreditbetyg från Standard&Poors).
These companies or their possible legal successors must be required to repay the aid that was unduly received.
Punkt 28 i synpunkterna från SIF.
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.
Uppskattningen har gjorts genom en beräkning av den ränta som skulle ha tagits ut vid tillämpning av räntan enligt 2008 års meddelande om referensräntor, med avdrag för den uppskattade räntan på grundval av den faktiska ränta som tillämpades, genom att uppdatera alla belopp med den ränta som anges i nämnda meddelande.