Commission Decision (EU) 2015/507 of 16 September 2014 on the measure SA.23129 — ... (32015D0507)
Commission Decision (EU) 2015/507 of 16 September 2014 on the measure SA.23129 — (12/C) (ex 12/NN) (ex CP 141/2007) implemented by Germany (notified under document C(2014) 6411) Text with EEA relevance
- COMMISSION DECISION (EU) 2015/507
- of 16 September 2014
- on the measure SA.23129 — (12/C) (ex 12/NN) (ex CP 141/2007) implemented by Germany
- (notified under document C(2014) 6411)
- (Only the German text is authentic)
- (Text with EEA relevance)
- 1.
- PROCEDURE
- 2.
- DESCRIPTION OF THE MEASURES
- 2.1. LAND-LEASE AND SALE CONTRACT
- 2.2. GENERAL MANAGEMENT CONTRACT
- 2.3. GLOBAL LUMP-SUM CONTRACT
- 3.
- OBSERVATIONS BY GERMANY
- 4.
- COMMENTS BY INTERESTED PARTIES
- 4.1. NEUWOGES
- 4.1.1.
- Joint versus separate assessment of the contracts at issue
- 4.1.2.
- Land-lease and sale contract
- 4.1.2.1.
- Purchase price
- 4.1.2.2.
- Capitalised rent for the land
- 4.1.2.3.
- Debt write-off pursuant to the Inherited Debt Support Law
- 4.1.2.4.
- Modernisation
- 4.1.2.5.
- Bidding Process
- 4.1.3.
- General Management Contract
- 4.1.3.1.
- The General Management Contract in the light of market expectations
- 4.1.3.2.
- Comparison contracts
- 4.1.3.3.
- Political motivation
- 4.1.4.
- Alternatives
- 4.1.5.
- State resources and imputability
- 4.2. BAVARIA
- 4.2.1.
- Joint versus separate assessment of the contracts at issue
- 4.2.2.
- The transaction did not confer an advantage upon NEUWOGES
- 4.2.3.
- Alternatives
- 4.2.4.
- State resources and imputability
- 4.3. CITY OF NEUBRANDENBURG
- 4.3.1.
- Advantage
- 4.3.2.
- State resources and imputability
- 4.4. BERLIN
- LAND
- 4.4.1.
- Advantage
- 4.4.2.
- State resources and imputability
- 5.
- REASONS FOR INITIATING THE FORMAL INVESTIGATION PROCEDURE
- 6.
- NATIONAL COURT PROCEEDINGS
- 7.
- ASSESSMENT OF THE MEASURE
- 7.1. EXISTENCE OF AID UNDER ARTICLE 107(1) TFEU
- 7.1.1.
- Selective advantage conferred upon an undertaking: general principles
- 7.1.2.
- Structure of the assessment in the present case
- 7.2. THE FINANCIAL IMPLICATIONS OF THE TRANSACTION FOR NEUWOGES
- 7.2.1.
- Joint versus separate assessment of the contracts in question
- 7.2.2.
- Background: how the sale-and-lease-back transaction works
- 7.2.3.
- Determining the likely financial impact of the land-lease and sale contract on NEUWOGES
- 7.2.3.1.
- Other factors
- 7.2.3.2.
- Conclusions
- 7.2.4.
- Determining the likely financial impact of the general management contract on NEUWOGES
- 7.2.4.1.
- Background (Calculations)
- 7.2.4.2.
- Financial impact analysis
- 7.2.4.3.
- Market expectations
- 7.2.4.4.
- Assessment
- 7.2.4.5.
- Conclusion
- 7.2.5.
- Overall assessment
- 7.3. COMPARISON WITH ALTERNATIVE BUSINESS OPTIONS
- 7.3.1.
- Loan alternative
- 7.3.2.
- Outright sale alternative
- 7.3.2.1.
- Assessment in the light of the 1997 and 2007 valuations
- 7.3.2.2.
- Comparison of outright sale and sale-and-lease-back
- 7.3.3.
- Conclusion
- 7.4. BENCHMARKING
- 7.4.1.
- Comparison contracts
- 7.4.2.
- Bidding process
- 7.4.2.1.
- Background
- 7.4.2.2.
- Result of the bidding process
- 7.4.2.3.
- Assessment
- 7.4.3.
- Other types of transactions available at the relevant time
- 7.4.3.1.
- Assessment framework
- 7.4.3.2.
- Assessment
- 7.4.4.
- Conclusion
- 7.5. SUPPLEMENTARY ASSESSMENT: REMAINING STATE AID ELEMENTS AND COMPATIBILITY WITH THE INTERNAL MARKET
- 7.5.1.
- Remaining state aid elements
- 7.5.1.1.
- Undertaking
- 7.5.1.2.
- Use of state resources and imputability
- 7.5.1.3.
- Selectivity
- 7.5.1.4.
- Distortion of competition and effect on trade
- 7.5.1.5.
- Conclusion
- 7.5.2.
- Compatibility with the internal market pursuant to Article 107(3)(c) TFEU
- 7.5.2.1.
- Objective of common interest
- 7.5.2.2.
- Appropriateness of the measures
- 7.5.2.3.
- Necessity and incentive effect
- 7.5.2.4.
- Proportionality
- 7.5.2.5.
- No effect on trading conditions that is contrary to the common interest
- 7.5.3.
- Conclusion concerning the remaining state aid elements and compatibility with the internal market
- 7.6. CONCLUSION REGARDING THE EXISTENCE OF AID AND COMPATIBILITY WITH THE INTERNAL MARKET
- Article 1
- Article 2
- Article 3
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