2013/246/EU: Commission Decision of 7 March 2012 on State aid No SA.29041 (C 28/2... (32013D0246)
2013/246/EU: Commission Decision of 7 March 2012 on State aid No SA.29041 (C 28/2009, ex N 433/2009) Support measures in favour of Oltchim SA Râmnicu Vâlcea (notified under document C(2012) 1369) Text with EEA relevance
- COMMISSION DECISION
- of 7 March 2012
- on State aid No SA.29041 (C 28/2009, ex N 433/2009) Support measures in favour of Oltchim SA Râmnicu Vâlcea
- (notified under document C(2012) 1369)
- (Only the Romanian text is authentic)
- (Text with EEA relevance)
- (2013/246/EU)
- I.
- PROCEDURE
- II.
- BACKGROUND TO THE CASE
- II.1.
- The company
- II.2.
- Events prior to Romania's Accession to the EU
- II.2.1.
- The origin of the public debt
- II.2.2.
- The 2003 debt conversion
- II.2.3.
- Further accumulated debt
- II.3.
- Events after Romania's accession to the EU
- II.3.1.
- Evolution of the debt
- II.3.2.
- The second debt conversion
- II.4.
- Oltchim's current situation
- III.
- THE OPENING DECISION
- IV.
- ROMANIA'S COMMENTS ON THE OPENING DECISION
- V.
- COMMENTS FROM INTERESTED PARTIES
- VI.
- ROMANIA'S COMMENTS ON THE OBSERVATIONS OF INTERESTED PARTIES
- VII.
- WITHDRAWAL OF THE NOTIFICATION WITH RESPECT TO THE STATE GUARANTEE (MEASURE 2)
- VIII.
- ROMANIA'S POSITION AFTER THE WITHDRAWAL OF MEASURE 2
- VIII.1.
- Modification of measure 1 - Romania's intention to privatise
- VIII.2.
- Developments regarding measure 3 - the interest agreement
- VIII.3.
- Romania's arguments in view of the privatisation intention
- IX.
- ASSESSMENT
- IX.1.
- General
- IX.2.
- Competence of the Commission prior to accession
- IX.3.
- Existence of aid: Advantage
- IX.3.1.
- The private creditor test
- IX.3.2.
- Recovery of the public debt – Assessment of measure 3
- IX.3.3.
- The debt conversion – measure 1
- Figure 1
- Oltchim's share price development on the Bucharest Stock Exchange 23.2.2011-23.2.2012
- IX.4.
- Conclusion on the advantage criterion
- X.
- CONCLUSION
- Article 1
- Article 2
- Article 3
- Article 4
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