Competition weekly news summary
Friday, July 22, 2011

Conferences and speeches

  • Commission decision on HRE and state of play on HSH Nordbank, WestLB and BayernLB
    European Parliament, ECON Committee, Brussels, Joaquín Almunia
    18 July 2011
    "Today's decision on the Hypo Real Estate group brings to an end one of the most important State aid cases in the financial sector from the point of view of the state resources involved. [...] After a careful analysis of the restructuring plan, we are satisfied that the remaining core bank – called pbb Deutsche Pfandbriefbank –will be able to restore long-term viability."
    Read more >

Mergers

  • Commission approves proposed joint venture between Trenitalia and Veolia Transport
    20 July 2011
    The Commission has cleared the proposed joint venture for the provision of international rail passenger transport services between the Italian incumbent rail operator Trenitalia, part of the Ferrovie dello Stato group, and the private French rail and bus operator Veolia Transport. The Commission concluded that the proposed transaction would not raise competition concerns, in particular because Veolia Transport is a newcomer to the markets concerned.
    Read more >
  • Commission clears acquisition of Evonik's carbon black business by Rhône Capital and Triton
    19 July 2011
    The Commission has cleared the proposed acquisition of the German chemicals company Evonik's carbon black business by the private equity firms Rhône Capital of the US and Triton, based in Jersey. The Commission concluded that the transaction would not significantly alter the structure of the market for carbon black as neither Rhône Capital nor Triton has an ownership interests in any carbon black business.
    Read more >
  • Commission approves acquisition of ThyssenKrupp Metal Forming by Corporación Gestamp, both suppliers to the automotive sector
    19 July 2011
    The Commission has cleared the proposed acquisition of ThyssenKrupp Metal Forming ("TKMF") of Germany by Gestamp Automoción, controlled by Corporación Gestamp S.L. of Spain. The Commission's investigation confirmed that the merged entity would continue to face competition from a number of other strong competitors and customers would still have sufficient alternative suppliers in all markets concerned.
    Read more >

State aid

  • Commission temporarily approves rescue aid for Irish Life & Permanent Group Holdings
    20 July 2011
    The Commission has temporarily approved a recapitalisation of up to €3.8 billion for Irish Life & Permanent Group Holdings (IL&P). The recapitalisation is necessary to increase the bank's solvency ratios, thereby enabling it to resist potential stress situations and preserving stability on the Irish financial markets. The Commission will take a final decision on the state measures in favour of IL&P on the basis of the new restructuring plan that Ireland committed to submit by the end of July to take account of this additional state support.
    Read more >
  • Overview of state aid cases in the context of the financial crisis
    18 July 2011
    In 2008/2009, the Commission adopted a temporary State aid framework to enable Member States to deal with financial problems in systemic banks, as well as support companies' access to finance. This framework, which was tightened as part of an exit strategy in July and December 2010, is in place until the end of 2011.
    Go to table >
  • Commission approves restructuring plan of Hypo Real Estate and clears the aid
    18 July 2011
    The Commission has approved the restructuring measures for the German banking group Hypo Real Estate. The Commission concluded that the restructuring plan of HRE and its core bank pbb Deutsche Pfandbriefbank (pbb) is liable to restore pbb's long-term viability while ensuring that the bank and its former owners adequately contribute to the restructuring costs and that the distortions of competition created by the aid are mitigated. All business activities of the HRE group will be phased out, except for the activities of pbb. At the end of 2011, pbb's adjusted balance sheet size will be around 85% smaller than HRE group's balance sheet size at the end of 2008. This will adequately address the distortions of competition created by the massive state support received by HRE during the financial crisis.
    Read more >
  • Public consultation on export-credit insurance
    18 July 2011
    In view of the expiry of the Commission's Communication on short-term export-credit insurance at the end of 2012, a questionnaire has been published to gather feedback on its application. In light of the feedback, the Commission will then determine whether the Communication should continue to apply, be modified or expire.
    Go to consultation >

Court

  • Case C-194/09 Alcoa / Commission
    21 July 2011
    The Court of Justice ruled on an appeal against a CFI judgment of 2009 that had confirmed a Commission decision of 2006 to open an in-depth investigation to determine whether a preferential electricity tariff granted to Alcoa's two aluminium smelters in Veneto and Sardinia was in line with EU state aid rules. The Court entirely upheld the CFI ruling and thereby confirmed the Commission's decision in its entirety.
    Read full ECJ judgment >
    Read full CFI judgment of 2009 >
    Read more about initial Commission decision >
  • Case C-459/10 Saxony / Commission
    21 July 2011
    The Court of Justice ruled on an appeal against a CFI judgment of July 2010 that had confirmed a Commission decision of July 2008 finding part of a training aid granted to DHL incompatible with EU state aid rules. The ECJ upheld the CFI ruling and thereby entirely confirmed the Commission decision.
    Read full ECJ judgment >
    Read full CFI judgment of 2010 >
    Read more about initial Commission decision >
  • Case C-506/08 Sweden / MyTravel & Commission
    21 July 2011
    The Court of Justice ruled on an appeal against a CFI judgment of September 2008 that had upheld Commission decisions of 2005 rejecting requests of access to Commission documents related to a merger case. The Court partially annulled the CFI ruling and sent the case back to the General Court for a judgment on the pleas on which it had not yet ruled.
    Read full ECJ judgment >
    Read full CFI judgment of 2008 >

Subscriptions:

Editorial and legal information

Published by the Competition Directorate General of the European Commission. The content of this publication does not necessarily reflect the official position of the European Commission. Neither the Commission nor any person acting on its behalf is responsible for the use which might be made of the above information.

© European Union, 2011. Reproduction is authorised provided the source is acknowledged.

Competition website