2008/719/EC: Commission Decision of 30 April 2008 on State aid C 56/06 (ex NN 77/... (32008D0719)
2008/719/EC: Commission Decision of 30 April 2008 on State aid C 56/06 (ex NN 77/06) implemented by Austria for the privatisation of Bank Burgenland (notified under document number C(2008) 1625) (Text with EEA relevance)
- COMMISSION DECISION
- of 30 April 2008
- on State aid C 56/06 (ex NN 77/06) implemented by Austria for the privatisation of Bank Burgenland
- (notified under document number C(2008) 1625)
- (Only the German version is authentic)
- (Text with EEA relevance)
- (2008/719/EC)
- I. PROCEDURE
- II. DETAILED DESCRIPTION OF THE AID
- 1. The Consortium (the complainant)
- 2. GRAWE (the beneficiary)
- 3. Hypo Bank Burgenland AG (BB)
- 4. The restructuring of BB
- 5. The privatisation of BB
- 5.1. The privatisation process
- 5.2. The selection criteria in the process letter
- 5.3. The warranty clause in the contract with GRAWE
- 5.4. The recommendation by HSBC
- III. DECISION TO INITIATE THE FORMAL INVESTIGATION PROCEDURE UNDER ARTICLE 88(2) OF THE EC TREATY
- IV. COMMENTS FROM INTERESTED PARTIES
- V. COMMENTS FROM AUSTRIA AND GRAWE
- 1. Admissibility
- 2. General issues related to the tender procedure and its outcome
- 3. The market conformity of the sales price paid by GRAWE
- 4. The role of
- Ausfallhaftung
- in the sale of BB
- 5. Issues regarding the authorisation of the sale by the FMA
- 6. Further elements of the prognosis of the Province of Burgenland
- 7. Other risk evaluation methods presented by Austria and GRAWE
- 8. Compatibility of the aid with the common market
- VI. LEGAL ASSESSMENT OF THE AID
- 1. Admissibility
- 2. Existence of State aid within the meaning of Article 87(1) of the EC Treaty
- 2.1. State aid in the context of privatisation – the legal framework
- 2.2. Existence of State aid
- 2.3. The conditions attached to the sale of BB
- 2.4. Other considerations concerning ‘Ausfallhaftung’
- 2.5. The warranty clause concerning State aid in the contract with GRAWE
- 2.6. Final conclusion on the existence of State aid
- 3. Compatibility with the common market
- 4. Full effectiveness of Commission Decision 2005/691/EC on the restructuring of Bank Burgenland
- 5. Recovery
- VII. CONCLUSION
- Article 1
- Article 2
- Article 3
- Article 4
- Article 5
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